U.S. Markets close in 4 hrs 53 mins

Crude Oil Firms into June and October 2016 Highs

Jamie Saettele, CMT

DailyFX.com -


Crude Oil Firms into June and October 2016 Highs

Chart Prepared by Jamie Saettele, CMT

DailyFX Trading Guides and Forecasts

Real Time Positioning

-“I’m positive on crude as long as the trendline holds. Now that’s a hold! Lows from January and February stretch from 50.69 to 51.25. The upper end of this range looks like the ‘best’ level for resistance (trendline intersection).” Crude is above the top of the noted range and trading at the highs from June and October 2016. As such, respect potential for a pause in the move higher but the broader constructive outlook remains.

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 IG.