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Crude 200 Day Average at Monday and Tuesday Highs

Crude 200 Day Average at Monday and Tuesday Highs

2014-05-06 21:17:00
Jamie Saettele, CMT, Sr. Technical Strategist
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Daily

Crude 200 Day Average at Monday and Tuesday Highs

Chart Prepared by Jamie Saettele, CMT using Marketscope 2.0

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

-Crude is coming off of a top that is accompanied by a sentiment extreme. In fact, COT remains pinned near record levels. The current juncture is even more important in light of the 200 day average resting above Monday’s and Tuesday’s highs.

-Look lower as long as price is below Monday’s high. 97.99 and 97.34 are supports.

LEVELS: 97.93 98.74 99.42 | 100.49 101.50 102.19

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

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