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
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
Oil - US Crude
Bearish
Wall Street
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
Gold
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
GBP/USD
Bullish
USD/JPY
Bearish
More View more
Real Time News
  • The $USD may return to the offensive as markets flee to cash amid fears of deep global recession thanks to the still-raging #coronavirus outbreak. Get your US Dollar update from @IlyaSpivak here: https://t.co/g1us4ZbYR5 https://t.co/tLFeaAwRqE
  • US Dollar Forecast - via @DailyFX: As the $USD stabilizes into month and quarter end, which follows a flareup in #FX volatility amid the #coronavirus pandemic, where might $DXY, $AUDUSD & $GBPUSD head next? Find Out: https://www.dailyfx.com/forex/fundamental/us_dollar_index/usd_trading_today/2020/03/31/us-dollar-forecast-dxy-index-audusd-gbpusd-price-analysis.html #Forex #Trading #Analysis https://t.co/QtFN12ZSkM
  • Join @ddubrovskyFX 's #webinar at 8:00 PM ET/12:00 AM GMT to find out what information you can gain from knowing what other traders are buying or selling. Register here: https://t.co/Bb3CTCTm44 https://t.co/14EYRSUsUU
  • US President Donald Trump said he has had fruitful discussions with Saudi Arabia and Russia on oil prices and efforts towards combatting the #coronavirus - First Squawk #OOTT
  • South Korean daily exports may show negative growth - Finance Chief (BBG) #KRW
  • President Donald Trump says he has not done anything on tariff payment deferments and that he has not been presented a delay plan -BBG
  • New Zealand Finance Minister the Treasury is considering "bespoke" solutions for bigger firms needing financial assistance - BBG #NZD
  • The #Dow Jones Industrial Average sold off by as much as 38.4% from the February high to the March low, while the S&P 500 lost as much as 35.9% over the same observed period. Get your #equity market update from @JStanleyFX here: https://t.co/HkNM11G1n9 https://t.co/Tiremr0LkX
  • US equity futures pointing lower heading into Asia's Wednesday trading session
  • President Trump says we're going to go through a very tough two weeks #coronavirus
Crude Drops for 3rd Day; Nearing August Low of 102.21

Crude Drops for 3rd Day; Nearing August Low of 102.21

2013-09-23 21:03:00
Jamie Saettele, CMT, Sr. Technical Strategist
Share:

Daily

eliottWaves_oil_body_crude.png, Crude Drops for 3rd Day; Nearing August Low of 102.21

Chart Prepared by Jamie Saettele, CMT using Marketscope 2.0

Automate trades with Mirror Trader

-A triangle formed in Crude from 7/19 to 8/21. Triangles are typically resolved in the direction of the larger trend but breakouts from triangles are usually the final leg of a larger move.

-On 8/28, price took out the 2012 high before closing nearly $3 off of the high (exhaustion)

-Price broke below the trendline that extends off of the 6/25 and 8/22 lows and retested it on the Fed advance. The complete retracement of that rally suggests that the path is lower.

Trading Strategy: Short side favored below 108.50. Target 100.50. 100.36 is the measured move from the 105.51-110.66 range.

LEVELS: 99.19 100.36 102.21 | 104.90 106.38 107.33

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

DISCLOSURES

News & Analysis at your fingertips.