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.

0

Notifications

Notifications below are based on filters which can be adjusted via Economic and Webinar Calendar pages.

Live Webinar

Live Webinar Events

0

Economic Calendar

Economic Calendar Events

0
Free Trading Guides
Subscribe
Please try again
More View more
Crude Trendline Confluence Rejects Advance

Crude Trendline Confluence Rejects Advance

Jamie Saettele, CMT, Sr. Technical Strategist

Weekly

Crude Trendline Confluence Rejects Advance

Chart Prepared by Jamie Saettele, CMT

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

-The last few crude updates noted that “the test for this bounce is a former support line, which is about 33.50 over the next few days. A push above that level would be viewed as a positive development…volatile conditions could certainly lead to an ‘overshoot’.” Crude ‘overshot’, trading to 34.79 and has since wiped out a good deal of the rally. As long as price is below channel resistance, focus is lower.

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