Filed Under:
Forex pairs in this Article »
Daily Bars

eliottWaves_oil_body_crude.png, Crude Spikes Lower Before Closing Near High of Day Chart Prepared by Jamie Saettele, CMT using Marketscope 2.0

Commodity Analysis: Crude has broken steep trendline support. Trendlines break of this angle are often false but any near term bearish development (such as a 5 wave decline and 3 wave setback) would warrant consideration in light of recent COT data.

Commodity Trading Strategy: The decline and recovery so far in February aren't especially clean. Pick your spots&this isn't one of them.

LEVELS: 9264 9379 9494 9821 9899 10040

comments powered by Disqus