Crude 98.64 Remains Key on Swing Basis

By DailyFx | Updated August 21, 2014 AAA

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

Related Forex Analysis
  1. Forex News

    Gold Reversal Stalls, SPX 500 Vulnerable to Renewed Selling Pressure

  2. Forex News

    USD/CHF Cup and Handle, EUR/GBP Triangle Wait on Catalysts

  3. Forex News

    Dollar Rally Post-FOMC Bolstered by Surprise SNB Action

  4. Forex News

    Crude Recovery May Be Limited, Natural Gas Braces For Storage Data

  5. Forex News

    FOMC Preview and Trade Setups in EUR/USD, USD/JPY, AUD/USD

Trading Center