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Crude Could Get Drilled into the 52s

Crude Could Get Drilled into the 52s

Jamie Saettele, CMT, Sr. Technical Strategist

Daily

Crude Could Get Drilled into the 52s

Chart Prepared by Jamie Saettele, CMT using Marketscope 2.0

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

-“The 5/13 high failed to reach the resistance line, which warns of a top (think of it like momentum divergence) and coming support break.”

-Failure to reach the resistance line was a good warning. The low 54s (former resistance) may provide support but the 50% retracement of the advance from the March low at 52.38 may be the magnet level.

For more analysis and trade setups, visit SB Trade Desk

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