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Crude Daily Key Reversal after Plunge

Crude Daily Key Reversal after Plunge

Jamie Saettele, CMT, Sr. Technical Strategist

Daily Bars

eliottWaves_oil_body_crude.png, Crude Daily Key Reversal after Plunge

Prepared by Jamie Saettele, CMT

Crude’s decline has been nothing short of breathtaking. As mentioned many times in these technical pages, crude has served as a leading indicator and the ‘tell’ that global growth is slowing significantly. Even so, markets don’t move in straight lines and today’s key reversal may be the beginning of a corrective advance back towards 8725 or even 8926. Watch the Elliott channel.

LEVELS: 8119 8225 8280 8584 8725 8824

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.

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