DailyFX.com -

Daily

Crude 98.64 is the Near Term Pivot

Chart Prepared by Jamie Saettele, CMT using Marketscope 2.0

Automate trades with Mirror Trader and see ideas on other USD crosses

-“Crude’s sharp decline is contained within a channel but would consist of 2 equal legs from the high at 95.26. In other words, the current level to 95.26 is a support zone. I’m more inclined to treat 95.26 as the level to look for a rebound given the presence of trendline support (off of the July 2012 and January 2014 lows).” Above 98.64 would suggest that a near term low is in at this confluence.

--Tradingideas are availabletoJ.S. Trade Desk members.

You May Also Like

COMPANIES IN THIS ARTICLE
Related Forex Analysis
  1. Forex News

    Crude Oil Levitates to Range Top, SPX 500 Digesting Near Record Highs

  2. Forex News

    Crude Dip Complete?

  3. Forex News

    Gold and Crude Oil Consolidate After Suffering Deep Losses

  4. Forex News

    Crude Oil and Gold Prices Face Renewed Selling Pressure

  5. Forex News

    Crude Could Get Drilled into the 52s

Trading Center