Crude Rallies from Long Term Trendline after 6 Consecutive Down Days
Chart Prepared by Jamie Saettele, CMT using Marketscope 2.0
Automate trades with Mirror Trader
-Crude has finally gained. The rally comes off of the line that extends off of the 2008 and 2012 lows (and through the weeks of the 2009 and 2013 lows) as well as the steep downward sloping line that extends off of the Sep and Oct lows.
-After a decline of this magnitude, allow for an attempt on higher levels. I’ve got trendlines in mind along with 98.74.
Trading Strategy: Flat
LEVELS: 91.23 92.68 94.24 | 95.93 97.35 98.74
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