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Crude Resistance May Come in above 54

Crude Resistance May Come in above 54

2015-07-09 19:43:00
Jamie Saettele, CMT, Sr. Technical Strategist
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Crude Resistance May Come in above 54

Chart Prepared by Jamie Saettele, CMT

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

-“Crude has declined sharply from former support (bold black line). The rally was probably part of a 4th wave within the decline from the 2013 high…this chart suggests that crude is headed to 20 or so.”

-“Crude has plunged into a slope confluence. This is a good spot for a rally attempt. Watch for resistance in the 54.00s and near 58.”

For more analysis and trade setups, visit SB Trade Desk

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