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Crude Drilled Again; Watch March Low at 42 and Parallel Line at 41

Crude Drilled Again; Watch March Low at 42 and Parallel Line at 41

Jamie Saettele, CMT, Sr. Technical Strategist

Daily

Crude Drilled Again; Watch March Low at 42 and Parallel Line at 41

Chart Prepared by Jamie Saettele, CMT

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

-In the most recent update, we wondered whether “crude was leading the USD (which is bouncing from support)…focus squarely on 42-43.19 (March and September lows).” Crude is closing in on 42. There is also a parallel level to watch for support near 41. Failure to hold either one of these levels opens up trend lows.

For more analysis and trade setups, visit SB Trade Desk

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.

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