Crude Could Bounce from 41-42 Zone

Daily

Chart Prepared by Jamie Saettele, CMT

DailyFX Trading Guides and Forecasts

-Recent updates have 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).” Focus remains on 42 and the mentioned 41.12, which is also near the 200 day average. Expect this zone to provide support for a bounce.

For more analysis and trade setups, visit SB Trade Desk