Advertisement
Australia markets closed

  • ALL ORDS

    7,837.40
    -100.10 (-1.26%)
     

  • ASX 200

    7,575.90
    -107.10 (-1.39%)
     

  • AUD/USD

    0.6521
    -0.0002 (-0.03%)
     

  • OIL

    83.78
    +0.21 (+0.25%)
     

  • GOLD

    2,345.30
    +2.80 (+0.12%)
     

  • Bitcoin AUD

    97,448.22
    -128.32 (-0.13%)
     

  • CMC Crypto 200

    1,325.91
    -70.63 (-5.06%)
     

  • AUD/EUR

    0.6106
    +0.0032 (+0.53%)
     

  • AUD/NZD

    1.0989
    +0.0032 (+0.29%)
     

  • NZX 50

    11,805.09
    -141.34 (-1.18%)
     

  • NASDAQ

    17,713.88
    +283.38 (+1.63%)
     

  • FTSE

    8,139.82
    +60.96 (+0.75%)
     

  • Dow Jones

    38,173.04
    +87.24 (+0.23%)
     

  • DAX

    18,157.14
    +239.86 (+1.34%)
     

  • Hang Seng

    17,651.15
    +366.61 (+2.12%)
     

  • NIKKEI 225

    37,934.76
    +306.28 (+0.81%)
     

Crude Oil Tightest 20 Day Range Since August 2014; Breakout Warning

Jamie Saettele, CMT

DailyFX.com -

Daily

Crude Oil Tightest 20 Day Range Since August 2014; Breakout Warning
Crude Oil Tightest 20 Day Range Since August 2014; Breakout Warning

Chart Prepared by Jamie Saettele, CMT

DailyFX Trading Guides and Forecasts

-Crude is coiled…really tight. Bollinger band width is the smallest since July 2002! Historically extreme readings tend to register before strong directional moves. Which direction though? If I forget about the record COT position, then the market is set up to rally but perhaps from a triangle in which case the risk is high that a new high proves terminal (end of a move rather than beginning).


original source

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.
Learn forex trading with a free practice account and trading charts from IG.