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  • The tension from March continues to subside, allowing for the $USD to slide to fresh two-month-lows. Get your currencies market update from @JStanleyFX here: https://t.co/bRSRjUqg6Z https://t.co/Q35YpIZEd2
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  • Crude #oilprices may face heightened liquidation pressure as the cycle-sensitive #commodity finds itself under the pressure of resilient resistance and a vulnerable, multi-week rising channel. Get your crude #oil market update from @ZabelinDimitri here: https://t.co/cGPX4qcOH1 https://t.co/0U4JMJVFuf
  • The @ecb will likely boost its Pandemic Emergency Purchase Program at Thursday’s meeting of its Governing Council; a move that could give the #Euro a lift. Get your currencies market update from @MartinSEssex here: https://t.co/I4PbmJNG1z https://t.co/hu6Ld1KdDB
Crude Sending Mixed Signals after Recent Volatility

Crude Sending Mixed Signals after Recent Volatility

2012-10-08 22:20:00
Jamie Saettele, CMT, Sr. Technical Strategist
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Daily Bars

eliottWaves_oil_body_crude.png, Crude Sending Mixed Signals after Recent Volatility

Prepared by Jamie Saettele, CMT

“After falling short of the 86/10/84 objective, crude roared Thursday and completely erased Wednesday’s decline. The advance is the 4th largest of the year, behind 6/29, 7/3, and 8/3 (circled). The 6/29 and 8/3 rallies kick started larger advances. 7/3 gave way to consolidation but the low of that day remained intact. Thursday’s range can be used as a reference point to determine a bias.” Friday and Monday trading took place within Thursday’s range thus the bias remains neutral.

LEVELS: 8363 8610 8766 9180 9330 9553

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