Skip to Content
News & Analysis at your fingertips.
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 - 4th Day on Channel Support; Hold or Fold!

Crude - 4th Day on Channel Support; Hold or Fold!

Jamie Saettele, CMT, Sr. Technical Strategist

Share:

Daily

Chart Prepared by Jamie Saettele, CMT

DailyFX Trading Guides and Forecasts

-The last update noted that “the break below 45.82 delays the constructive outlook. The measured target from this breakdown is 41.12, which is just under a chart level at 42 (March 2015 low and March 2016 high). Pay attention to possible parallel channel support just under 44.” Crude found support at the noted parallel channel support (although above 44 since the line wasn’t reached for a few days until after the break). A broader top could still be unfolding given the importance of 51-52.

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