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Crude Mid-42.00s is Still a Big Spot

Crude Mid-42.00s is Still a Big Spot

Jamie Saettele, CMT, Sr. Technical Strategist


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 at mid-42.00s now. Failure to hold that level would be bearish.

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.