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Crude Former Highs are Support Under 99

Crude Former Highs are Support Under 99

Jamie Saettele, CMT, Sr. Technical Strategist

Daily

eliottWaves_oil_body_Picture_2.png, Crude Former Highs are Support Under 99

Chart Prepared by Jamie Saettele, CMT using Marketscope 2.0

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

-Crude has broken through trendline resistance and is nearing the December high, which is a good place for a pullback. Watch for support from the 2/6 high at 98.79.

-The failed break of long term trendline supports may very well propel the market higher in the coming months.

LEVELS: 97.09 97.81 98.79 | 100.73 102.21 103.49

--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.

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