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Crude Breaking Away from Median Line

Crude Breaking Away from Median Line

Jamie Saettele, CMT, Sr. Technical Strategist

Daily

Crude Breaking Away from Median Line

Chart Prepared by Jamie Saettele, CMT using Marketscope 2.0

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-“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 near 67. Price needs to stay above 55.69 for the breakout to remain valid.”

-Continue to look higher but risk can be tightened now to 58.28.

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