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Crude 5 Year Trendline is in the Low 90s

Crude 5 Year Trendline is in the Low 90s

Jamie Saettele, CMT, Sr. Technical Strategist

Weekly

eliottWaves_oil_body_crude.png, Crude 5 Year Trendline is in the Low 90s

Chart Prepared by Jamie Saettele, CMT using Marketscope 2.0

Automate trades with Mirror Trader

-The line that extends off of the 2008 and 2012 lows is at about 93.25 this week. This line was tested in April. Needless to say, a break below that line would indicate a major trend shift.

Trading Strategy: Flat

LEVELS: 93.65 95.33 96.05 | 97.98 98.64 99.20

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

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