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 Drops for 5th Consecutive Day; Beware Snapback above 105

Crude Drops for 5th Consecutive Day; Beware Snapback above 105

2013-08-08 23:57:00
Jamie Saettele, CMT, Sr. Technical Strategist
Share:

Daily

eliottWaves_oil_body_crude.png, Crude Drops for 5th Consecutive Day; Beware Snapback above 105

Chart Prepared by Jamie Saettele, CMT using Marketscope 2.0

Interested in automated trading with Mirror Trader?

Commodity Analysis: “Given extremes in Crude COT and the fact that the recent rally failed near the 2012 high, I’m finding it difficult to treat the decline from the recent high as a 4th wave. The decline appears to be unfolding in an impulsive manner as well. Estimated resistance is 105.44.” Friday’s run at the highs failed. We’re at huge resistance so a bearish bias is warranted but a clean short term bearish pattern has yet to form.

Commodity Trading Strategy: Flat

LEVELS: 99.19 100.68 102.11 104.84 106.81 108.89

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

DISCLOSURES

News & Analysis at your fingertips.