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.

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
EUR/USD
Bullish
Oil - US Crude
Bearish
Wall Street
Mixed
Low
High
of clients are net long.
of clients are net short.
Long Short

Note: Low and High figures are for the trading day.

Data provided by
Gold
Mixed
GBP/USD
Bullish
USD/JPY
Bearish
More View more
Crude Has Retraced Entire April Advance; Breaks Support

Crude Has Retraced Entire April Advance; Breaks Support

Jamie Saettele, CMT, Sr. Technical Strategist

Daily

Crude Has Retraced Entire April Advance; Breaks Support

Chart Prepared by Jamie Saettele, CMT using Marketscope 2.0

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

-I wrote last week that “the next few days are critical to the next big move in crude. The market has broken the line that extends off of the August and March highs but remains below the March high (105.19). The current level is also marked by the 61.8% retracement from the 2013 high-at 104.19.” The market has voted in favor of weakness…look lower although the current level (month open) could provide support.

LEVELS: 97.93 98.99 99.86 | 101.52 102.35 102.83

--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