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Crude Support of Last Resort?

Jamie Saettele, CMT

DailyFX.com -

Daily

Crude Support of Last Resort?
Crude Support of Last Resort?

Chart Prepared by Jamie Saettele, CMT

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

-Crude has declined for 10 consecutive weeks. The only other similar streak (since 1987) occurred in 1991 (10 weeks). Following the 10 week decline in 1991, a 3 month base formed that gave way to a 15% rally (from the breakout level…the rally from low to high over 6 months was 30%).

For more analysis and trade setups, visit SB Trade Desk


original source

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