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 MOVERS

  • Most Actives
    Most Actives
    NamePriceChange% Chg
    0.110.00+2.80%
    AAJ.SI
    0.121+0.015+14.15%
    5H0.SI
    3.84+0.02+0.52%
    Z74.SI
    0.16+0.01+4.58%
    5IF.SI
    0.955+0.010+1.06%
    G13.SI
  • % Gainers
    % Gainers
    NamePriceChange% Chg
    0.121+0.015+14.15%
    5H0.SI
    0.15+0.01+8.70%
    UV1.SI
    0.65+0.05+8.33%
    BJW.SI
    0.535+0.050+10.31%
    B58.SI
    0.16+0.01+4.58%
    5IF.SI
  • % Losers
    % Losers
    NamePriceChange% Chg
    0.38-0.05-11.63%
    BTF.SI
    0.25-0.03-9.09%
    BLZ.SI
    0.46-0.04-8.00%
    BFK.SI
    0.34-0.01-4.23%
    508.SI
    0.153-0.005-3.16%
    R14.SI

Market Data

  • Currencies
    Currencies
    NamePriceChange% Chg
    1.41620.000.00%
    USDSGD=X
    1.5238-0.0013-0.09%
    EURSGD=X
    1.7746-0.0002-0.01%
    GBPSGD=X
    79.6060+0.133+0.17%
    SGDJPY=X
    5.4741-0.0003-0.01%
    SGDHKD=X
    3.1269-0.0061-0.19%
    SGDMYR=X
    9,388.1299-43.8516-0.46%
    SGDIDR=X
    4.8373+0.0005+0.01%
    SGDCNY=X
    1.07580.000.00%
    AUDSGD=X
  • Commodities
    Commodities
    NamePriceChange% Chg
    1,217.10+1.50+0.12%
    GCG17.CMX
    17.22+0.03+0.17%
    SIH17.CMX
    91.26+2.58+2.91%
    ^XAU
    2.650.00+0.11%
    HGH17.CMX
    52.33+0.96+1.87%
    CLG17.NYM
  • Bonds
    Bonds
    TreasuryYield (%)Yield Change
    1.87-0.07
    ^FVX
    2.40-0.06
    ^TNX
    2.99-0.06
    ^TYX