Chart Prepared by Jamie Saettele, CMT using Marketscope 2.0
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Commodity Analysis: Crude has been brutal. After months of false breakouts, crude reversed sharply lower 2 weeks ago and has now retraced the entire move down and then some. A break above the September high would shift focus to the line that extends off of the 2011 and 2012 tops near 103.
Commodity Trading Strategy: Was stopped out of a short taken at 95.85 at 98.20. Flat now.
LEVELS: 96.05 96.84 98.25 100.45 103.00 106.63