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

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
    Currencies
    NamePriceChange% Chg
    1.3571-0.004-0.29%
    USDSGD=X
    1.4924-0.0039-0.26%
    EURSGD=X
    1.7829-0.0046-0.26%
    GBPSGD=X
    76.8350-0.852-1.10%
    SGDJPY=X
    5.7141+0.0191+0.34%
    SGDHKD=X
    2.9978-0.0013-0.04%
    SGDMYR=X
    9,681.1348+31.5176+0.33%
    SGDIDR=X
    4.9170+0.0114+0.23%
    SGDCNY=X
    1.0222+0.0053+0.52%
    AUDSGD=X
  • Commodities
    Commodities
    NamePriceChange% Chg
    1,319.500.000.00%
    GCQ16.CMX
    19.69+0.05+0.24%
    SIU16.CMX
    99.89-3.85-3.71%
    ^XAU
    2.21-0.01-0.32%
    HGU16.CMX
    42.54-0.59-1.37%
    CLU16.NYM
  • Bonds
    Bonds
    TreasuryYield (%)Yield Change
    1.14+0.02
    ^FVX
    1.570.00
    ^TNX
    2.290.00
    ^TYX

MARKET MOVERS

  • Most Actives
    Most Actives
    NamePriceChange% Chg
    0.165-0.003-1.79%
    N21.SI
    0.495+0.055+12.50%
    5TP.SI
    1.035+0.030+2.99%
    Y92.SI
    0.365+0.005+1.39%
    E5H.SI
    0.775-0.025-3.13%
    G13.SI
  • % Gainers
    % Gainers
    NamePriceChange% Chg
    0.235+0.030+14.63%
    BOU.SI
    0.29+0.03+13.73%
    S71.SI
    0.445+0.050+12.66%
    BHU.SI
    0.495+0.055+12.50%
    5TP.SI
    0.24+0.02+11.63%
    S46.SI
  • % Losers
    % Losers
    NamePriceChange% Chg
    0.161-0.089-35.60%
    BFT.SI
    0.19-0.03-13.64%
    BDN.SI
    0.16-0.02-9.60%
    O08.SI
    0.20-0.02-9.09%
    BLZ.SI
    0.106-0.010-8.62%
    BEH.SI