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Crude Oil – Triangle Possibility from January 3rd

Crude Oil – Triangle Possibility from January 3rd

Jamie Saettele, CMT, Sr. Technical Strategist


Chart Prepared by Jamie Saettele, CMT

DailyFX Trading Guides and Forecasts

-Price action since 2017 began may be a triangle that gives way to a terminal thrust (higher then lower). Remember, positioning (COT) is extreme so the thought of a failed breakout has been forefront in my mind for a while. If crude resumes higher, then pay attention to the median line. If it breaks lower, then pay attention to 49.

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.