Crude 102 is Important to Near Term Trend
Chart Prepared by Jamie Saettele, CMT using Marketscope 2.0
-Since February, crude has been trading in what appears to be a triangle pattern. Several more legs within the triangle are possible so be aware of weakness from near range highs. A support zone is defined by former congestion from 101.25 to 102.64. The market is there now. Failure to hold here opens up the 200 DMA again.
LEVELS: 100.90 101.68 102.21 | 103.27 104.11 105.19
--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.