Chart Prepared by Jamie Saettele, CMT using Marketscope 2.0
-Crude has traded through important resistance from the 10/28 and 12/10 highs.
-Former lows at 101.04 and 102.21 may serve as resistance.
-Near term support is 98.55 and I’m looking higher as long as price is above 97.74.
Trading Strategy: Flat
LEVELS: 96.19 97.74 98.74 | 100.01 101.04 102.21
--- Written by Jamie Saettele, CMT, Senior Technical Strategist for DailyFX.com
- Finance Trading
- Utility Industry