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  • Is there clarity on time of day? There is a material change in the risk around the event whether it is pre-NY open (gap and steady), during NY trade (volatility and steady) or after hours (let fear/greed build over the weekend for a Monday charge) https://t.co/wUSO6d44ns
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  • Gold Price Outlook: XAU Overbought as Cycles Drive the Bullish Trend https://www.dailyfx.com/forex/fundamental/daily_briefing/session_briefing/daily_fundamentals/2020/05/28/Gold-Price-Outlook-XAU-Overbought-as-Cycles-Drive-the-Bullish-JS-Trend.html $Gold https://t.co/ntbvPQTHF9
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  • As long as this moves forward, the verbal (Twitter) threats of action between the US and China will garner less and less actual market movement https://t.co/pvGOJuAG4N
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Crude Recovers Portion of Monday’s Decline

Crude Recovers Portion of Monday’s Decline

2013-02-05 23:58:00
Jamie Saettele, CMT, Sr. Technical Strategist
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Daily Bars

eliottWaves_oil_body_crude.png, Crude Recovers Portion of Monday’s Decline

Chart Prepared by Jamie Saettele, CMT using Marketscope 2.0

Commodity Analysis: Crude has broken steep trendline support. Trendlines break of this angle are often false but any near term bearish development (such as a 5 wave decline and 3 wave setback) would warrant consideration in light of recent COT data.

Commodity Trading Strategy: Flat

LEVELS: 9264 9379 9494 9821 9899 10040

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

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