Crude – Ready to Spill?

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).” After trading on channel support for 5 days, crude is attempting to break down. Look towards the mentioned 41.12, which is also near the 200 day average.

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