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
    1.3478+0.0063+0.47%
    USDSGD=X
    1.4688-0.0043-0.30%
    EURSGD=X
    2.0771+0.0018+0.09%
    GBPSGD=X
    91.2851+0.6812+0.75%
    SGDJPY=X
    5.7512-0.0276-0.48%
    SGDHKD=X
    2.7014+0.0073+0.27%
    SGDMYR=X
    9,803.9980-24.5615-0.25%
    SGDIDR=X
    4.6024-0.0212-0.46%
    SGDCNY=X
    1.0441-0.0055-0.52%
    AUDSGD=X
  • Commodities
    Commodities
    NamePriceChange% Chg
    1,186.90-17.10-1.42%
    GCM15.CMX
    16.75-0.30-1.74%
    SIN15.CMX
    69.13-2.12-2.97%
    ^XAU
    2.78-0.03-1.12%
    HGN15.CMX
    58.30-1.42-2.38%
    CLN15.NYM
  • Bonds
    Bonds
    TreasuryYield (%)Yield Change
    1.54-0.02
    ^FVX
    2.16-0.06
    ^TNX
    2.92-0.07
    ^TYX

MARKET MOVERS

  • Most Actives
    Most Actives
    NamePriceChange% Chg
    0.330.00-1.49%
    AFC.SI
    0.193+0.012+6.63%
    5OU.SI
    0.290.000.00%
    5WA.SI
    0.172+0.004+2.38%
    F13.SI
    0.27+0.01+3.85%
    B0Z.SI
  • % Gainers
    % Gainers
    NamePriceChange% Chg
    0.25+0.06+31.58%
    41H.SI
    0.26+0.06+30.00%
    AYP.SI
    0.138+0.019+15.97%
    5IF.SI
    0.15+0.02+14.50%
    5TJ.SI
    0.915+0.110+13.66%
    NC9.SI
  • % Losers
    % Losers
    NamePriceChange% Chg
    0.20-0.05-20.00%
    5PD.SI
    0.135-0.015-10.00%
    5OY.SI
    0.185-0.020-9.76%
    41O.SI
    0.56-0.06-9.68%
    AXK.SI
    0.25-0.03-9.09%
    L02.SI