Commodity Technical Analysis: Crude Looking to End Week above 11 Month Trendline
Weekly Bars
Chart Prepared by Jamie Saettele, CMT
Commodity Analysis: Crude was never able to drop below last Friday's low and has surged through 9500. Price is looking to close the week above a nearly 11 month trendline (extends off of the 2012 highs). Immediate focus shifts to the September high at 10040 although there is likely resistance at 99.
Commodity Trading Strategy: Flat
LEVELS: 9151 9308 9408 9719 9900 10040
Chart Prepared by Jamie Saettele, CMT
Commodity Analysis: Crude was never able to drop below last Friday's low and has surged through 9500. Price is looking to close the week above a nearly 11 month trendline (extends off of the 2012 highs). Immediate focus shifts to the September high at 10040 although there is likely resistance at 99.
Commodity Trading Strategy: Flat
LEVELS: 9151 9308 9408 9719 9900 10040
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