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Crude Support at 97.50/80; Trend is Higher

Crude Support at 97.50/80; Trend is Higher

Jamie Saettele, CMT, Sr. Technical Strategist

Daily

eliottWaves_oil_body_Picture_2.png, Crude Support at 97.50/80; Trend is Higher

Chart Prepared by Jamie Saettele, CMT using Marketscope 2.0

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

-Crude has traded through important resistance from the 10/28 and 12/10 highs.

-Former lows at 101.04 and 102.21 may serve as resistance.

-Near term support is 97.50/80.

Trading Strategy: Flat

LEVELS: 96.19 97.74 98.74 | 100.01 101.04 102.21

--- Written by Jamie Saettele, CMT, Senior Technical Strategist for DailyFX.com

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

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