Crude Former Trendline Spots the Low
Chart Prepared by Jamie Saettele, CMT using Marketscope 2.0
-Since February, crude has been trading in what appears to be a triangle pattern. This dip may be the final leg of the triangle although I was looking for support closer to 101.25. That could still be reached but today’s reversal at the top side of former trendline resistance (which has seen 2 false breaks) is constructive.
LEVELS: 100.90 101.68 102.21 | 103.27 104.11 105.19
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