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Oil - US Crude
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Crude at Best Level Since Late May

Crude at Best Level Since Late May

Jamie Saettele, CMT, Sr. Technical Strategist

240 Minute Bars

eliottWaves_oil_body_crude.png, Crude at Best Level Since Late May

Prepared by Jamie Saettele, CMT

Crude is at its best level since 5/30 after exceeding the 7/5 high of 8896. Already $12 off of the low, there is little reason to expect the rally to stop at this level. Allow for weakness to correct 3 consecutive up days before continuation towards 9216 (5/29 high) and 9521 (100% extension and 5/9 low). Support is 8646-8759.

LEVELS: 8555 8646 8759 9090 9216 9328

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