Crude Trendline Reaction offers Opportunity
Chart Prepared by Jamie Saettele, CMT using Marketscope 2.0
Commodity Analysis: Crude has reached and responded to the trendline that extends off of the September and January highs. Barring a break above 100.40, favor the range.
Commodity Trading Strategy: The market has responded on an intraweek basis…would like to see if price takes out 98.21 and reverses before attempting a short.
LEVELS: 93.30 94.06 95.21 97.21 98.21 100.40