News & Analysis at your fingertips.

We use a range of cookies to give you the best possible browsing experience. By continuing to use this website, you agree to our use of cookies.
You can learn more about our cookie policy here, or by following the link at the bottom of any page on our site. See our updated Privacy Policy here.

0

Notifications

Notifications below are based on filters which can be adjusted via Economic and Webinar Calendar pages.

Live Webinar

Live Webinar Events

0

Economic Calendar

Economic Calendar Events

0
Free Trading Guides
Subscribe
Please try again
More View more
Real Time News
  • Rising energy prices weigh on European policymakers as consumers fear higher prices, carbon dioxide shortages (CO2), and cold winter. Get your market update from @Tams707 here:https://t.co/HLDN2JGfAf https://t.co/tWhlMrXN4G
  • US President Biden: - Will discuss a trade deal with UK PM Boris Johnson - I do not want to see a closure of Irish borders
  • AUD/USD continues to trend lower ahead of tomorrow's FOMC meeting. Further $USD strength could bring the August low into play $AUDUSD https://t.co/X3zfpYN8Qe
  • Nasdaq Ekes Out Small Gain As Focus Turns to FOMC, Uber Flies On Bullish Guidance $NDX $UBER #trading #FED https://t.co/1uL1Ao3o3v
  • Fedex Q1 Results: Revenues: $22.0B vs. $21.8B est. EPS $4.37 vs. $4.92 est. $FDX down roughly 2.25% AH
  • In this week's Macro Setup @CVecchioFX, discusses with @RiskReversal and @GuyAdami, news regarding property developer Evergrande weighing down US financial markets, and September's Fed meeting impact on assets. Tune into the markets now!https://t.co/dBgjbpXLXL https://t.co/WXLoq1O1PL
  • Copper demand continues to outstrip supply, according to the recent update from the International Copper Study Group. Get your $XAG market update from @CVecchioFX here:https://t.co/23ii112k1E https://t.co/xHZfC2sffQ
  • China to be carbon-neutral by 2060; country will stop building coal-powered projects abroad - BBG
  • Curious to know if this is because a) bailout by Beijing is still widely viewed as the base case scenario if contagion materializes and/or b) recent backstops implemented globally to curb financial market fallout have effectively supplanted left tail risk https://t.co/cFSXtb1WfQ
  • video uploaded from today's webinar https://t.co/CCrY3mYRjL
Crude Consolidation Viewed in Bearish Light

Crude Consolidation Viewed in Bearish Light

Jamie Saettele, CMT, Sr. Technical Strategist

Daily Bars

eliottWaves_oil_body_crude.png, Crude Consolidation Viewed in Bearish Light

Prepared by Jamie Saettele, CMT

Quite simply, the sideways trade in crude since the 6/4 low (that low was pierced on 6/12) may be nothing more than a shallow correction before the next bear leg towards the October low at 7494. In fact, the width of the range (8105-8700) is about $6. The width of a range can be used to generate an objective once that range is broken. In this case, a break of 8105 would be expected to extend the width of the range, or $6. The objective would be 7505, which is of course in line with the October low.

LEVELS: 8000 8105 8203 8550 8700 8926

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

DISCLOSURES