Prepared by Jamie Saettele, CMT
The most recent comments were that “crude is constructive as long as price is above 8803. A drop below 8803 would leave the advance from 8685 as a corrective 3 wave rally.” The rally has stalled right at the 61.8% retracement of the decline from 9323 which is reason to be cautious. Conviction on direction is low.
LEVELS: 8684 8803 8902 9086 9321 9521