News & Analysis at your fingertips.

We use a range of cookies to give you the best possible browsing experience. By continuing to use this website, you agree to our use of cookies.
You can learn more about our cookie policy here, or by following the link at the bottom of any page on our site. See our updated Privacy Policy here.

0

Notifications

Notifications below are based on filters which can be adjusted via Economic and Webinar Calendar pages.

Live Webinar

Live Webinar Events

0

Economic Calendar

Economic Calendar Events

0
Free Trading Guides
Subscribe
Please try again
More View more
Crude Oil - 49 in Focus for Support

Crude Oil - 49 in Focus for Support

Jamie Saettele, CMT, Sr. Technical Strategist

Daily

Crude Oil - 49 in Focus for Support

Chart Prepared by Jamie Saettele, CMT

DailyFX Trading Guides and Forecasts

-The possible yearlong head and shoulders pattern (lows in August 2015, February 2016 and August 2016) is intriguing but crude just printed a YTD high and pulled back sharply. Watch for support at 49 (former high) but failure to hold that level risks a drop into the former support line (in blue) near 46.

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