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.

Free Trading Guides
EUR/USD
Bearish
Oil - US Crude
Bearish
Wall Street
Bearish
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
Gold
Bearish
GBP/USD
Mixed
USD/JPY
Mixed
More View more
Real Time News
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Ripple are long at 96.65%, while traders in US 500 are at opposite extremes with 75.34%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/GoPpkxvdpw
  • Heads Up:🇵🇱 Unemployment Rate due at 08:00 GMT (15min) Expected: 5.7% Previous: 5.4% https://www.dailyfx.com/economic-calendar#2020-05-26
  • Commodities Update: As of 07:00, these are your best and worst performers based on the London trading schedule: Oil - US Crude: 1.87% Silver: 1.45% Gold: -0.02% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/D211ny6ORL
  • The commodity currencies, AUD, CAD, and NZD, which typically benefit from their higher yield profile relative to other currencies (the carry trade), no longer hold this advantage. Get your #currencies market update from @CVecchioFX here: https://t.co/3oWXhp0hCX https://t.co/JKzhDb4mBd
  • Forex Update: As of 07:00, these are your best and worst performers based on the London trading schedule: 🇳🇿NZD: 0.70% 🇦🇺AUD: 0.70% 🇬🇧GBP: 0.63% 🇪🇺EUR: 0.35% 🇨🇭CHF: 0.20% 🇯🇵JPY: -0.13% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/dJEKnTJHQS
  • Indices Update: As of 07:00, these are your best and worst performers based on the London trading schedule: France 40: 1.50% Germany 30: 1.39% FTSE 100: 0.95% Wall Street: 0.89% US 500: 0.66% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/ouTm0aMRaC
  • FTSE @ 6,150...just 80 points away from the early March gap...#ftse #stocks @DailyFXTeam https://t.co/X95auU1GC8
  • Heads Up:🇫🇷 Business Confidence due at 06:45 GMT (15min) Expected: 85 Previous: 82 https://www.dailyfx.com/economic-calendar#2020-05-26
  • Can anyone explain Bitcoin's 'flash crash'??? #BTC #bitcoin @DailyFXTeam 🤔🤔 https://t.co/jeravYvq68
  • #Gold rising alongside stocks and yields. 'Risk-on' tilt has driven #USD lower, so anti-fiat demand may be overpowering other forces. Classic 'risk-on' elsewhere: #AUD and #NZD up with #SPX500 futures, #JPY down alongside #bonds https://t.co/D6iK49Kfsz
Commodity Technical Analysis: Crude Resistance is Esimated at 8835/89

Commodity Technical Analysis: Crude Resistance is Esimated at 8835/89

2012-12-13 02:56:00
Jamie Saettele, CMT, Sr. Technical Strategist
Share:

Daily Bars

Commodity_Technical_Analysis_Crude_Resistance_is_Esimated_at_883589_body_crude.png, Commodity Technical Analysis: Crude Resistance is Esimated at 8835/89

Chart Prepared by Jamie Saettele, CMT

Commodity Analysis: “The trend has been down since September and it’s probably best to look lower since the November low as nothing more than consolidation before additional weakness.” IF crude can sustain a downside break then focus (probably later in the month) would shift to the 78.6% retracement of the rally from 7726 and channel support. Also keep an eye on former trendline resistance, which indicated support on 11/28.

Commodity Trading Strategy: 8550, the first target, was hit several days ago and the rest of the position was stopped out at Monday’s high. 8835/89 is estimated resistance to short into against 9031.

LEVELS: 8363 8454 8565 8765 8835 8889

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

DISCLOSURES

News & Analysis at your fingertips.