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
Oil - US Crude
Mixed
Low
High
of clients are net long.
of clients are net short.
Long Short

Note: Low and High figures are for the trading day.

Data provided by
More View more
Commodity Technical Analysis: Crude Stabilizes with Inside Day

Commodity Technical Analysis: Crude Stabilizes with Inside Day

Jamie Saettele, CMT, Sr. Technical Strategist

Daily Bars

eliottWaves_oil_body_crude.png, Commodity Technical Analysis: Crude Stabilizes with Inside Day

Chart Prepared by Jamie Saettele, CMT

Commodity Observations: Crude’s inside day at the 61.8% retracement of the rally from 7726 hints that selling has subsided. Still, the rally from 7726 is probably a correction with sub waves 3-3-5.

Commodity Trading Strategy Implications: The 6/29 (large range and large volume) close is at 8475 and 7/10 low is at 8363. These levels may provide interim support but market risk is lower, albeit on strength.

LEVELS: 8084 8363 8475 8744 8855 8976

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

DISCLOSURES