U.S. Markets closed

Crude December High Rests at 100.73

Jamie Saettele, CMT


eliottWaves_oil_body_Picture_2.png, Crude December High Rests at 100.73

Chart Prepared by Jamie Saettele, CMT using Marketscope 2.0

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

-Crude has broken through trendline resistance and is nearing the December high, which is a good place for a pullback. Watch for support from the 2/6 high at 98.79.

-The failed break of long term trendline supports may very well propel the market higher in the coming months.

LEVELS: 97.09 97.81 98.79 | 100.73 102.21 103.49

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

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.