Advertisement
Australia markets closed
  • ALL ORDS

    7,937.50
    -0.40 (-0.01%)
     
  • AUD/USD

    0.6502
    +0.0013 (+0.20%)
     
  • ASX 200

    7,683.00
    -0.50 (-0.01%)
     
  • OIL

    82.96
    -0.40 (-0.48%)
     
  • GOLD

    2,328.30
    -13.80 (-0.59%)
     
  • Bitcoin AUD

    102,139.29
    +371.35 (+0.36%)
     
  • CMC Crypto 200

    1,431.28
    +7.18 (+0.50%)
     

Crude Votes ‘Fakeout’ in Regards to Last Week’s Query

Daily

Crude Votes ‘Fakeout’ in Regards to Last Week’s Query
Crude Votes ‘Fakeout’ in Regards to Last Week’s Query

Chart Prepared by Jamie Saettele, CMT using Marketscope 2.0

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

-I wrote last week that “the next few days are critical to the next big move in crude. The market has broken the line that extends off of the August and March highs but remains below the March high (105.19). The current level is also marked by the 61.8% retracement from the 2013 high-at 104.19.” The market has voted in favor of weakness…look lower.

LEVELS: 98.99 99.55 100.60 | 102.20 102.83 103.70

--Trading specifics (setups with entries, stops, targets) are availabletoJ.S. Trade Desk members.

ADVERTISEMENT


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 FXCM.