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Crude 102.21/58 is an Important Zone

Crude 102.21/58 is an Important Zone

2014-05-13 19:47:00
Jamie Saettele, CMT, Sr. Technical Strategist
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Daily

Crude 102.21/58 is an Important Zone

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 proximity of the 200 day average.

-102.21/58 is a reaction zone.

LEVELS: 99.26 100.39 101.14 | 102.21 103.78 104.25

--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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