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Crude Coils Under 12 Month Trendline

Crude Coils Under 12 Month Trendline

2015-06-16 18:26:00
Jamie Saettele, CMT, Sr. Technical Strategist
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Crude Coils Under 12 Month Trendline

Chart Prepared by Jamie Saettele, CMT

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

-Crude has turned up sharply but does face the combination of a median line (although bullish) and longer term trendline (bearish) just above the current level.

-“Crude dipped to 57.81 today (6/4). This level needs to hold if the trend is still higher.” Broad focus is higher as trade since May is corrective and therefore likely subdivides a larger bull move. Beware of long term trendline resistance just above current price however.

For more analysis and trade setups, visit SB Trade Desk

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