News & Analysis at your fingertips.

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. See our updated Privacy Policy here.

0

Notifications

Notifications below are based on filters which can be adjusted via Economic and Webinar Calendar pages.

Live Webinar

Live Webinar Events

0

Economic Calendar

Economic Calendar Events

0
Free Trading Guides
Subscribe
Please try again
More View more
Crude Digests Big Rally; 96.19 Remains Estimated Resistance

Crude Digests Big Rally; 96.19 Remains Estimated Resistance

Jamie Saettele, CMT, Sr. Technical Strategist

Daily

eliottWaves_oil_body_Picture_2.png, Crude Digests Big Rally; 96.19 Remains Estimated Resistance

Chart Prepared by Jamie Saettele, CMT using Marketscope 2.0

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

-The rally in Crude from the Nov low is corrective (3 waves), further bolstering the longer term bearish argument.

-Price rebounded from the June 2013 low last week and already reached the top of recent consolidation (last week’s high). Shorts at bad prices following the false break of the trendline off of the 2012 and 2 lows could result in a run at 96.19.

LEVELS: 91.23 92.29 93.33 | 94.56 96.19 94.56

--Trading specifics (setups with entries, stops, targets) are availabletoJ.S. Trade Desk members.

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

DISCLOSURES