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Crude Hits Target and Reverses Sharply

Crude Hits Target and Reverses Sharply

Jamie Saettele, CMT, Sr. Technical Strategist

Daily

Crude Hits Target and Reverses Sharply

Chart Prepared by Jamie Saettele, CMT

DailyFX Trading Guides and Forecasts

-The last update noted that “Crude remains constructive while within the Andrew’s structure shown. The market is testing the median line now, which was resistance last week. A bull objective is 46.45.” Crude popped through the 46.45level before coming off sharply. Watch for support near 41.30/80 the rest of the week. Failure to hold that level would be bearish.

For more analysis and trade setups, visit SB Trade Desk

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