Crude Trendline Confluence is Possible Support Next Week
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 at the top of the zone. The bottom of the zone intersects a trendline confluence next week.
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.
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