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  • 🇮🇹 Industrial Production MoM (MAR) Actual: -0.1% Expected: 0.4% Previous: 0.1% https://www.dailyfx.com/economic-calendar#2021-05-11
  • 🇮🇹 Industrial Production YoY (MAR) Actual: 37.7% Expected: 37.2% Previous: -0.8% https://www.dailyfx.com/economic-calendar#2021-05-11
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Silver are long at 89.37%, while traders in Wall Street are at opposite extremes with 75.15%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/JPLBeXHsnx
  • Heads Up:🇮🇹 Industrial Production MoM (MAR) due at 08:00 GMT (15min) Expected: 0.4% Previous: 0.2% https://www.dailyfx.com/economic-calendar#2021-05-11
  • Heads Up:🇮🇹 Industrial Production YoY (MAR) due at 08:00 GMT (15min) Expected: 37.2% Previous: -0.6% https://www.dailyfx.com/economic-calendar#2021-05-11
  • Heads Up:🇨🇳 New Yuan Loans (APR) due at 08:00 GMT (15min) Expected: CNY1600B Previous: CNY2730B https://www.dailyfx.com/economic-calendar#2021-05-11
  • British Pound May Extend Sharp Rise with Queen's Speech in Focus - https://www.dailyfx.com/forex/fundamental/daily_briefing/session_briefing/euro_open/2021/05/11/British-Pound-May-Extend-Sharp-Rise-with-Queens-Speech-in-Focus.html?CHID=9&QPID=917708&utm_source=Twitter&utm_medium=Spivak&utm_campaign=twr #GBP #QueensSpeech #BOE #EURGBP https://t.co/kvhARmS65a
  • Commodities Update: As of 07:00, these are your best and worst performers based on the London trading schedule: Silver: 0.03% Gold: -0.12% Oil - US Crude: -0.86% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/VEefc8HQ7a
  • Forex Update: As of 07:00, these are your best and worst performers based on the London trading schedule: 🇬🇧GBP: 0.02% 🇪🇺EUR: -0.02% 🇦🇺AUD: -0.03% 🇯🇵JPY: -0.09% 🇳🇿NZD: -0.11% 🇨🇭CHF: -0.19% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/rlRifz8HJ4
  • Indices Update: As of 07:00, these are your best and worst performers based on the London trading schedule: Wall Street: -0.19% US 500: -0.39% Germany 30: -1.12% France 40: -1.14% FTSE 100: -1.17% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/Buso4CQNX2
Crude Consolidates Recent Losses

Crude Consolidates Recent Losses

Jamie Saettele, CMT, Sr. Technical Strategist

Weekly

Crude Consolidates Recent Losses

Chart Prepared by Jamie Saettele, CMT using Marketscope 2.0

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

-“Above 98.64 would suggest that a near term low is in at this confluence. Until then, respect downside potential. Crude has fallen apart. Remember, COT has indicated an extremely crowded trade forever. That trade is finally getting washed out.”

-The next major support is the 2011 low / 50% retracement of the advance from the 2008 low at 74.94-75.49. 84-86 (lows in 2012 and recent consolidation) is now resistance.

--Tradingideas are availabletoJ.S. Trade Desk members.

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