DailyFX.com -

Weekly

Crude 98.64 Remains Key on Swing Basis

Chart Prepared by Jamie Saettele, CMT using Marketscope 2.0

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

-“Above 98.64 would suggest that a near term low is in at this confluence. Until then, respect downside potential.” Crude has fallen apart. Remember, COT has indicated an extremely crowded trade forever. That trade is finally getting washed out. A break of the January low exposes 86.64.

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

You May Also Like

COMPANIES IN THIS ARTICLE
Related Forex Analysis
  1. Forex News

    Crude Oil Breaks Down from Range, SPX 500 Rebounds at Support

  2. Forex News

    Gold Drops Below 1200 Anew, SPX 500 Threatens 2-Month Uptrend

  3. Forex News

    Gold, Crude Oil Waiting for Breakout from Tight Congestion Ranges

  4. Forex News

    Bubbles in US Equity Prices and Bubbles in Global Market Exposure

  5. Forex News

    Crude Oil, Gold and SPX 500 Marking Time in Trading Ranges

Trading Center