Commodity Technical Analysis: Crude Bearish Trade Setup

By Jamie Saettele, CMT | DailyFX – Fri, Jan 4, 2013 11:51 AM SGT

Daily Candles

Commodity_Technical_Analysis_Crude_Bearish_Trade_Setup_body_crude.png, Commodity Technical Analysis: Crude Bearish Trade Setup

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: Today’s inside day is enough for me to short now rather than wait for a test of 9415

LEVELS: 8795 8996 9146 9415 9533 9719

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Market Data

  • Currencies
    NamePriceChange% Chg
    1.2591-0.00-0.07%
    USDSGD=X
    1.62620.00+0.00%
    EURSGD=X
    1.9067-0.00-0.11%
    GBPSGD=X
    81.45110.08+0.10%
    SGDJPY=X
    6.16430.00+0.07%
    SGDHKD=X
    2.39740.00+0.07%
    SGDMYR=X
    7,755.69435.20+0.07%
    SGDIDR=X
    4.8713-0.00-0.04%
    SGDCNY=X
    1.2307-0.00-0.36%
    AUDSGD=X
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  • Commodities
    NamePriceChange% Chg
    1,374.00-3.60-0.26%
    GCM13.CMX
    22.42-0.04-0.18%
    SIN13.CMX
    100.23-2.84-2.75%
    ^XAU
    3.350.01+0.24%
    HGN13.CMX
    95.72-0.46-0.48%
    CLN13.NYM
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  • Bonds
    TreasuryYield (%)Yield Change
    0.83-0.01
    ^FVX
    1.94-0.02
    ^TNX
    3.15-0.03
    ^TYX
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  • Most Actives
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    0.1160.01+9.43%
    5NG.SI
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    Y92.SI
    0.1970.00+0.51%
    I26.SI
    0.4350.02+4.82%
    A50.SI
    0.5750.00+0.88%
    E5H.SI
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    D6U.SI
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    5NG.SI
    0.2650.02+8.16%
    5UZ.SI
    0.5350.04+7.00%
    GJ8.SI
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    C3T.SI
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