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Crude Blows Through 96.19; Trendlines are Slightly Higher

Crude Blows Through 96.19; Trendlines are Slightly Higher

Jamie Saettele, CMT, Sr. Technical Strategist


eliottWaves_oil_body_Picture_2.png, Crude Blows Through 96.19; Trendlines are Slightly Higher

Chart Prepared by Jamie Saettele, CMT using Marketscope 2.0

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

-“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.” 96.19 couldn’t do anything to slow crude down. At this point, look for a test of trendline resistance that originates at either the August or September high.

LEVELS: 95.04 95.44 96.16| 96.99 98.14 98.93

--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.