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Crude Maintain Bid-Inches Towards August Low

Crude Maintain Bid-Inches Towards August Low

Jamie Saettele, CMT, Sr. Technical Strategist

Daily

eliottWaves_oil_body_Picture_2.png, Crude Maintain Bid-Inches Towards August Low

Chart Prepared by Jamie Saettele, CMT using Marketscope 2.0

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

-The reversal from above the December high gave way to several days of congestion. Crude is nearing a possible reaction zone defined by lows from September and the October high from 103.49 to 104.35 (pullback from there?).

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

LEVELS: 99.38 100.15 101.36 | 103.49 104.35 105.51

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

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