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Crude Falls Apart; June Lows in Focus

Crude Falls Apart; June Lows in Focus

Jamie Saettele, CMT, Sr. Technical Strategist


eliottWaves_oil_body_crude.png, Crude Falls Apart; June Lows in Focus

Chart Prepared by Jamie Saettele, CMT using Marketscope 2.0

Automate trades with Mirror Trader and see ideas on other USD crosses

-Crude bounced off of the line that extends off of the 2008 and 2012 lows (and through the weeks of the 2009 and 2013 lows) for 5 days before trading to lows today.

-June lows at 92.68 and 91.23 are now in focus. Keep an eye on the line that extends off of the 2012 lows as well.

Trading Strategy: Flat

LEVELS: 90.09 91.23 92.68 | 94.10 95.93 96.95

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