U.S. Markets closed

Commodity Technical Analysis: Crude Trades to November High

Jamie Saettele, CMT


Daily Bars

Commodity_Technical_Analysis_Crude_Trades_to_November_High_body_crude.png, Commodity Technical Analysis: Crude Trades to November High

Chart Prepared by Jamie Saettele, CMT


Commodity Analysis: “The emotional nature of the market on 11/6 and 11/7 is consistent with exhaustion but the probability of an important low being in place diminishes with the passage of time.” Crude rallied through the 11/6 high but market conditions aren’t conducive to extended moves. Today’s high is right at former support from the 10/15 low (circled). Fibonacci resistance begins at 9029.


Commodity Trading Strategy: Nothing for now.


LEVELS: 8672 8724 8840 9029 9123 9222





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.