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Crude All Over the Map Intraday

Crude All Over the Map Intraday

2013-05-16 21:33:00
Jamie Saettele, CMT, Sr. Technical Strategist
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Daily Bars

eliottWaves_oil_body_crude.png, Crude All Over the Map Intraday

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 “just 3 weeks after spiking below the trendline that extends off of the 2008 and 2012 lows, crude has rallied into the trendline that extends off of the highs since September 2012. What happens this week will probably have a lot to say regarding the next move. Tuesday’s inside day presents an opportunity to sell weakness on a drop below Monday’s low with a stop above Monday’s high.” The drop below 94.84 turns me bearish.

Commodity Trading Strategy: Going Flat

LEVELS: 90.09 91.63 92.17 94.46 95.20 96.21

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

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