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 Turns Down from mid-43.00s Resistance

Crude Turns Down from mid-43.00s Resistance

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

-Recent remarks noted that “Crude oil has completed a head and shoulders continuation pattern. The objective from this pattern is 35.50 (new lows). Price is at a median line that was support for the October low so weakness below here could lead to a free fall towards the August low. Resistance is now near 43.” Crude bounced into 43.42 before turning down. Additional sideways to upside is possible with resistance slightly under 45. A break through that level would indicate a behavior change.

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