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Real Time News
  • 🇺🇸 Business Inventories MoM (FEB) Actual: 0.5% Expected: 0.5% Previous: 0.4% https://www.dailyfx.com/economic-calendar#2021-04-15
  • 🇺🇸 NAHB Housing Market Index (APR) Actual: 83 Expected: 83 Previous: 82 https://www.dailyfx.com/economic-calendar#2021-04-15
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Silver are long at 93.08%, while traders in France 40 are at opposite extremes with 74.81%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/iQ76alFO1m
  • Commodities Update: As of 13:00, these are your best and worst performers based on the London trading schedule: Silver: 1.29% Gold: 1.02% Oil - US Crude: -0.62% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/87sd9nCfao
  • Sources: Italy's cabinet approves new stimulus package worth 40bln Euros. $EUR
  • Heads Up:🇺🇸 Business Inventories MoM (FEB) due at 14:00 GMT (15min) Expected: 0.5% Previous: 0.3% https://www.dailyfx.com/economic-calendar#2021-04-15
  • Heads Up:🇺🇸 NAHB Housing Market Index (APR) due at 14:00 GMT (15min) Expected: 83 Previous: 82 https://www.dailyfx.com/economic-calendar#2021-04-15
  • The S&P500 and Dow Jones both hit new record highs at the US market open. $SPY $DIA
  • USD/JPY price action might gain ground following robust economic data out of the US. Get your $USDJPY market update from @RichDvorakFX here:https://t.co/yiMbU3Izgp https://t.co/BJ3KEsLIjI
  • Indices Update: As of 13:00, these are your best and worst performers based on the London trading schedule: FTSE 100: 0.66% US 500: 0.53% Wall Street: 0.40% France 40: 0.38% Germany 30: 0.25% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/QQigstCXVK
Crude Slices Through Nearly 10 Month Trendline

Crude Slices Through Nearly 10 Month Trendline

Jamie Saettele, CMT, Sr. Technical Strategist

Daily Bars

eliottWaves_oil_body_crude.png, Crude Slices Through Nearly 10 Month Trendline

Chart Prepared by Jamie Saettele, CMT using Marketscope 2.0

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

Commodity Analysis: Wrote last week that crude’s “implications are bearish below 94.79, for a break below 91.95 and possibly an extended decline.” The extended variety is already underway. The clean break of 10 month trendline support open up and eventual run on the October 2012 low at 84.04. A return to 90 isn’t out of the question as the decline from there appears to be a 5th wave.

Commodity Trading Strategy: Short order at 90.00, stop 93.00, target open

LEVELS: 84.04 85.19 86.10 88.50 89.96 91.79

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

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