Skip to Content
News & Analysis at your fingertips.

We use a range of cookies to give you the best possible browsing experience. By continuing to use this website, you agree to our use of cookies.
You can learn more about our cookie policy here, or by following the link at the bottom of any page on our site. See our updated Privacy Policy here.

Free Trading Guides
Subscribe
Please try again
Select

Live Webinar Events

0

Economic Calendar Events

0

Notify me about

Live Webinar Events
Economic Calendar Events

H

High

M

Medium

L

Low
More View More
Crude Oil Final Test Before Full Blown Bull is 50.88

Crude Oil Final Test Before Full Blown Bull is 50.88

Jamie Saettele, CMT, Sr. Technical Strategist

Share:

Daily

Chart Prepared by Jamie Saettele, CMT

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

-The most recent update noted that “the early month break above the median line that was resistance at critical points in July, August, and September was short lived but crude oil is right back at the line. A break above this line would increase confidence that price action since the August low is the beginning of something more bullish.” Crude oil broke through the line today (11/3). The implication is, as mentioned, bullish but the final hurdle before a ‘spindletop like blowout’ looms at 50.88 (October high and 200 day average).

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.

DISCLOSURES