Commodity Technical Analysis: Crude 61.8% Level of Interest above 94

By Jamie Saettele, CMT | DailyFX – Thu, Jan 3, 2013 7:33 AM SGT

Weekly Bars

eliottWaves_oil_body_crude.png, Commodity Technical Analysis: Crude 61.8% Level of Interest above 94

Chart Prepared by Jamie Saettele, CMT

Commodity Analysis: Crude is nearing potentially significant resistance from the 61.8% retracement of the 10040-8404 decline at 9415 and trendline that extends off of the 2012 (February and September) highs. This area is reinforced by the 9/21 and 10/10 highs (already reached) and 8/30 low at 9393.

Commodity Trading Strategy: Short strength into 9415.

LEVELS: 8404 8519 8765 9415 9533 9719

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Market Data

  • Currencies
    NamePriceChange% Chg
    1.27080.00+0.18%
    USDSGD=X
    1.6846-0.00-0.09%
    EURSGD=X
    1.9610-0.00-0.17%
    GBPSGD=X
    76.30820.34+0.44%
    SGDJPY=X
    6.1035-0.01-0.20%
    SGDHKD=X
    2.51960.04+1.41%
    SGDMYR=X
    7,799.1582-13.56-0.17%
    SGDIDR=X
    4.8245-0.01-0.19%
    SGDCNY=X
    1.1737-0.00-0.31%
    AUDSGD=X
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  • Commodities
    NamePriceChange% Chg
    1,342.90-31.10-2.26%
    GCQ13.CMX
    21.22-0.45-2.08%
    SIU13.CMX
    97.46-2.86-2.85%
    ^XAU
    3.10-0.04-1.35%
    HGN13.CMX
    96.68-1.80-1.83%
    CLQ13.NYM
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  • Bonds
    TreasuryYield (%)Yield Change
    1.230.17
    ^FVX
    2.310.13
    ^TNX
    3.410.07
    ^TYX
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MARKET MOVERS

  • Most Actives
    NamePriceChange% Chg
    0.148-0.00-1.99%
    I26.SI
    3.58-0.11-2.98%
    Z74.SI
    0.565-0.00-0.88%
    E5H.SI
    1.4150.06+4.81%
    I07.SI
    1.36-0.03-2.51%
    G13.SI
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  • % Gainers
    NamePriceChange% Chg
    0.2250.06+33.14%
    5OS.SI
    0.1260.02+14.55%
    M15.SI
    0.300.03+9.09%
    5TH.SI
    1.4150.06+4.81%
    I07.SI
    0.220.01+4.76%
    5VS.SI
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    NamePriceChange% Chg
    1.33-0.34-20.36%
    GZ9.SI
    0.142-0.02-12.88%
    C50.SI
    0.335-0.03-9.46%
    564.SI
    7.11-0.57-7.42%
    QK9.SI
    0.335-0.03-6.94%
    M14.SI
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