Crude Oil Trendline Hold and Trying to Establish above the 200 Day Avg
Chart Prepared by Jamie Saettele, CMT
-The last update remarked that “low thus far is 47.07 so if crude isn’t going to spill then it needs to turn up now. A close back above the 200 day average would be a positive sign (a la what happened in August and November).” Crude closed above the 200 day average on Wednesday. Given the dynamic, I’m positive on crude.
DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.