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Crude Oil Sports Bullish Wicks above Trendline Support

Crude Oil Sports Bullish Wicks above Trendline Support

2017-03-28 19:55:00
Jamie Saettele, CMT, Sr. Technical Strategist
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Crude Oil Sports Bullish Wicks above Trendline Support

Chart Prepared by Jamie Saettele, CMT

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-No change on crude other than adding that the long wicks on the daily candles are indicative of support. “Crude continues to trade around the trendline and 200 day average. I’m positive on crude as long as the trendline holds. Failure to do opens up 42 (March 2015 and November 2016 lows) and maybe even a 37 handle at some point (61.8% retracement and August 2015 low).”

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