Crude Weakness Takes a Breather
Chart Prepared by Jamie Saettele, CMT using Marketscope 2.0
-I wrote last week that “after 8 days of consolidation, Crude begins March on a tear. The action is consistent with a terminal thrust from a triangle. In other words, look for a top and reversal. There are similarities between today and 8/28 (Syria then…Ukraine now). News events of this ilk often occur near tops.”
-95.19-97.09 is possible support. A low could form near one of these levels before a run at 105+.
LEVELS: 95.19 96.24 97.09 | 100.08 102.56 103.41
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