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
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
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
Wall Street
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
Gold
Mixed
GBP/USD
Mixed
USD/JPY
Bullish
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
Real Time News
  • Forex Update: As of 07:00, these are your best and worst performers based on the London trading schedule: 🇯🇵JPY: 0.44% 🇦🇺AUD: 0.29% 🇪🇺EUR: 0.22% 🇨🇭CHF: 0.13% 🇳🇿NZD: 0.05% 🇨🇦CAD: -0.05% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/wBltp4UJfg
  • Heads Up:🇸🇪 GDP Growth Rate YoY Final due at 07:30 GMT (15min) Expected: 0.5% Previous: 0.7% https://www.dailyfx.com/economic-calendar#2020-05-29
  • Heads Up:🇸🇪 GDP Growth Rate QoQ Final due at 07:30 GMT (15min) Expected: -0.6% Previous: 0.2% https://www.dailyfx.com/economic-calendar#2020-05-29
  • Major option expiries - $EURUSD 1.1050-55 (820mln), 1.1145-55 (1.1bln) - $AUDUSD 0.66 (1.1bln), 0.6650 (665mln), 0.6700 (1.45bln)
  • 🇭🇺 GDP Growth Rate YoY Final Actual: 2.2% Expected: 2.2% Previous: 4.5% https://www.dailyfx.com/economic-calendar#2020-05-29
  • 🇭🇺 GDP Growth Rate QoQ Final Actual: -0.4% Expected: -0.4% Previous: 0.7% https://www.dailyfx.com/economic-calendar#2020-05-29
  • Indices Update: As of 07:00, these are your best and worst performers based on the London trading schedule: US 500: -0.05% Wall Street: -0.10% France 40: -1.02% FTSE 100: -1.02% Germany 30: -1.29% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/2TWth8TZkP
  • 🇫🇷 Inflation Rate YoY Prel Actual: 0.2% Expected: 0.3% Previous: 0.3% https://www.dailyfx.com/economic-calendar#2020-05-29
  • Heads Up:🇨🇭 KOF Leading Indicators due at 07:00 GMT (15min) Expected: 70 Previous: 63.5 https://www.dailyfx.com/economic-calendar#2020-05-29
  • Heads Up:🇭🇺 GDP Growth Rate YoY Final due at 07:00 GMT (15min) Expected: 2.2% Previous: 4.5% https://www.dailyfx.com/economic-calendar#2020-05-29
Crude Nearing OTHER Trendline After Drop

Crude Nearing OTHER Trendline After Drop

2013-04-08 20:51:00
Jamie Saettele, CMT, Sr. Technical Strategist
Share:

Weekly Bars

eliottWaves_oil_body_crude.png, Crude Nearing OTHER Trendline After Drop

Chart Prepared by Jamie Saettele, CMT using Marketscope 2.0

Are you new to FX or curious about your trading IQ?

Commodity Analysis: Last week’s commentary remains valid – “The last 2 days have seen crude spike below 96.00 and above 97.50 yet end the day little changed. The intraday volatility is probably conditioning the market for the next move. In other words, a market with many interests is being cleared so that crude can go where it needs to go. Whether that’s higher or lower, I am not sure but crude has reached and responded to the trendline that extends off of the September and January highs. Barring a break above 100.40, I favor the range, which from here is lower.” Lower it is. The decline from 97.65 is in 5 waves so expect the advance to prove corrective. 94.80-95.74 is resistance.

Commodity Trading Strategy: Selling rallies above 94.80. Stop at 97.70.

LEVELS: 89.33 90.25 91.95 94.13 94.80 95.47

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

DISCLOSURES

News & Analysis at your fingertips.