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
    1.2524-0.0005-0.04%
    USDSGD=X
    1.7302-0.0004-0.03%
    EURSGD=X
    2.1031-0.0009-0.04%
    GBPSGD=X
    81.7697+0.037+0.05%
    SGDJPY=X
    6.1919+0.0024+0.04%
    SGDHKD=X
    2.5854+0.0009+0.04%
    SGDMYR=X
    9,118.5293-32.6895-0.36%
    SGDIDR=X
    4.9714+0.0072+0.14%
    SGDCNY=X
    1.1687+0.0002+0.01%
    AUDSGD=X
  • Commodities
    Commodities
    NamePriceChange% Chg
    1,294.60-8.90-0.68%
    GCM14.CMX
    19.65+0.02+0.08%
    SIK14.CMX
    90.18-0.65-0.72%
    ^XAU
    3.04+0.02+0.51%
    HGK14.CMX
    104.59+0.83+0.80%
    CLK14.NYM
  • Bonds
    Bonds
    TreasuryYield (%)Yield Change
    1.73+0.08
    ^FVX
    2.72+0.08
    ^TNX
    3.52+0.06
    ^TYX

MARKET MOVERS

  • Most Actives
    Most Actives
    NamePriceChange% Chg
    0.115-0.002-1.71%
    B22.SI
    0.48+0.020+4.35%
    5GJ.SI
    2.27+0.090+4.13%
    5ME.SI
    2.190.0000.00%
    JS8.SI
    0.61+0.005+0.83%
    E5H.SI
  • % Gainers
    % Gainers
    NamePriceChange% Chg
    0.162+0.034+26.56%
    5GF.SI
    0.20+0.034+20.48%
    5WD.SI
    0.59+0.050+9.26%
    L5I.SI
    0.28+0.020+7.69%
    C33.SI
    0.215+0.015+7.50%
    5UE.SI
  • % Losers
    % Losers
    NamePriceChange% Chg
    0.103-0.010-8.85%
    5OS.SI
    0.112-0.008-6.67%
    5RC.SI
    0.355-0.025-6.58%
    KJ9.SI
    0.215-0.015-6.52%
    F9M.SI
    0.29-0.020-6.45%
    5PC.SI