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Crude Extends Gains Towards July High

Crude Extends Gains Towards July High

Jamie Saettele, CMT, Sr. Technical Strategist

Daily Bars

eliottWaves_oil_body_crude.png, Crude Extends Gains Towards July High

Prepared by Jamie Saettele, CMT

Crude extended Friday’s big gains and price is closing in the top of the most recent range. I’d be wary of a move above 9321 as resistance is posed by the 50% retracement of the decline from 11053 and the underside of the former base (bearish) channel.

LEVELS: 8449 8555 8685 8777 8860 8960

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