Crude Inside Day offers Reference Point
Prepared by Jamie Saettele, CMT
Focus remains on the short term channel and 100% extension of the decline from 9321 (just below 8500). Today’s outside day offers an opportunity to play a breakout of Tuesday’s price range (9026 and 8729). Looking out a bit, a drop below 8685 would break the series of higher lows from 7726 and increase confidence in the idea that the rally from that level is complete in 3 waves.
LEVELS: 8449 8555 8685 8945 9085 9153
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