Skip to content
News & Analysis at your fingertips.

We use a range of cookies to give you the best possible browsing experience. By continuing to use this website, you agree to our use of cookies.
You can learn more about our cookie policy here, or by following the link at the bottom of any page on our site. See our updated Privacy Policy here.

0

Notifications

Notifications below are based on filters which can be adjusted via Economic and Webinar Calendar pages.

Live Webinar

Live Webinar Events

0

Economic Calendar

Economic Calendar Events

0
Free Trading Guides
Subscribe
Please try again
More View more
Crude Holding Breakout; Median Line is Key

Crude Holding Breakout; Median Line is Key

Jamie Saettele, CMT, Sr. Technical Strategist

Daily

Crude Holding Breakout; Median Line is Key

Chart Prepared by Jamie Saettele, CMT using Marketscope 2.0

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

-“Since mid-Jan, crude has been trading around the line that extends off of the 1998 and 2001 lows. Several key weekly reversals (in Jan and Mar) along with the shape of trading since mid-Jan indicate a possible bullish base. A couple more months of sideways trading may be in store with 54 as resistance.”

-“A break above 54 (daily close) would indicate an important behavior change.” Crude has broken above 54, shifting focus to the upper parallel, which intersects a resistance line at the end of the month near 67.

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.

DISCLOSURES