Crude Fails at 200 Day Average; Support at 45.32/76
Chart Prepared by Jamie Saettele, CMT
-“Crude reached the median line and is plunging from that median line. The slope presented above has caught every important turn over the last few months…so follow it!”
-“Crude has broken above the median line (used to be resistance). Watch the same line now for support.” The line was reached as support today (10/13). Given failure at the 200 day average, crude might slip a little lower but be aware of 45.32/76 as support.