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Crude Near Term Bearish Channel Worth a Look

Crude Near Term Bearish Channel Worth a Look

Jamie Saettele, CMT, Sr. Technical Strategist

Daily

Crude Near Term Bearish Channel Worth a Look

Chart Prepared by Jamie Saettele, CMT

DailyFX Trading Guides and Forecasts

-Crude is trading around 42 (March 2015 low and March 2016 high) but I’m more inclined to pay attention to the well-defined channel lines. The upper bound suggest that resistance is near 43. The next chart level of interest on the downside is the Doha low (also the August 2015 low) at 37.59.

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.

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