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 Trading Support Reached Just below 38

Crude Trading Support Reached Just below 38

Jamie Saettele, CMT, Sr. Technical Strategist

Weekly

Crude Trading Support Reached Just below 38

Chart Prepared by Jamie Saettele, CMT

DailyFX Trading Guides and Forecasts

-The last crude update noted that “crude could face resistance in the 42-43.50 zone. 42.01 is the low from March 2015.” High tick in crude was 41.87. The importance of resistance in the aforementioned zone cannot be understated. Another leg lower (test of the lows?) is possible as long as crude respects the resistance zone. Near term, crude could bounce/consolidate given the presence of support from the August low and late December high just below 38.

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