Crude Reacts at Fibonacci Level

Daily Bars

eliottWaves_oil_body_crude.png, Crude Reacts at Fibonacci Level

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

 
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Market Data

  • Currencies
    Currencies
    NamePriceChange% Chg
    1.26810.00+0.07%
    USDSGD=X
    1.6281-0.00-0.03%
    EURSGD=X
    1.90660.00+0.02%
    GBPSGD=X
    81.3468-0.03-0.04%
    SGDJPY=X
    6.1202-0.00-0.07%
    SGDHKD=X
    2.3826-0.00-0.07%
    SGDMYR=X
    7,701.7705-5.47-0.07%
    SGDIDR=X
    4.8384-0.00-0.07%
    SGDCNY=X
    1.2264-0.00-0.18%
    AUDSGD=X
  • Commodities
    Commodities
    NamePriceChange% Chg
    1,362.30-5.10-0.37%
    GCM13.CMX
    22.17-0.30-1.34%
    SIN13.CMX
    101.301.08+1.07%
    ^XAU
    3.36-0.02-0.59%
    HGN13.CMX
    93.95-0.33-0.35%
    CLN13.NYM
  • Bonds
    Bonds
    TreasuryYield (%)Yield Change
    0.890.06
    ^FVX
    2.030.08
    ^TNX
    3.210.06
    ^TYX

MARKET MOVERS

  • Most Actives
    Most Actives
    NamePriceChange% Chg
    0.1150.01+8.49%
    5NG.SI
    0.1970.00+0.51%
    I26.SI
    0.1120.00+1.82%
    5RJ.SI
    0.700.02+3.70%
    Y92.SI
    0.4350.02+4.82%
    A50.SI
  • % Gainers
    % Gainers
    NamePriceChange% Chg
    0.350.13+59.09%
    502.SI
    0.160.03+22.14%
    5PF.SI
    0.2150.03+13.76%
    D6U.SI
    0.1450.01+10.69%
    B2X.SI
    0.9250.09+10.12%
    I07.SI
  • % Losers
    % Losers
    NamePriceChange% Chg
    0.134-0.02-11.84%
    N6H.SI
    0.135-0.01-9.40%
    O57.SI
    3.67-0.30-7.56%
    GZ9.SI
    0.10-0.01-7.41%
    D79.SI
    0.126-0.01-7.35%
    E25.SI