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
    1.3431-0.0018-0.13%
    USDSGD=X
    1.5302+0.0034+0.22%
    EURSGD=X
    1.9619-0.0021-0.10%
    GBPSGD=X
    79.7504-0.6303-0.78%
    SGDJPY=X
    5.7768+0.0083+0.14%
    SGDHKD=X
    2.9101+0.0221+0.77%
    SGDMYR=X
    9,803.1191-8.3887-0.09%
    SGDIDR=X
    4.8294+0.0143+0.30%
    SGDCNY=X
    1.0258-0.0004-0.04%
    AUDSGD=X
  • Commodities
    Commodities
    NamePriceChange% Chg
    1,278.10+11.70+0.92%
    GCM16.CMX
    17.85+0.27+1.52%
    SIN16.CMX
    86.90+3.46+4.15%
    ^XAU
    2.28+0.05+2.24%
    HGN16.CMX
    46.48+0.45+0.98%
    CLM16.NYM
  • Bonds
    Bonds
    TreasuryYield (%)Yield Change
    1.30-0.04
    ^FVX
    1.84-0.02
    ^TNX
    2.690.00
    ^TYX

MARKET MOVERS

  • Most Actives
    Most Actives
    NamePriceChange% Chg
    0.745-0.015-1.97%
    Y92.SI
    0.096-0.007-6.80%
    5WH.SI
    0.460.00+1.10%
    N21.SI
    0.815-0.015-1.81%
    G13.SI
    0.131-0.001-0.76%
    40E.SI
  • % Gainers
    % Gainers
    NamePriceChange% Chg
    0.151+0.025+19.84%
    574.SI
    0.345+0.055+18.97%
    BDF.SI
    0.35+0.06+18.64%
    AWK.SI
    0.245+0.030+13.95%
    K22.SI
    0.125+0.015+13.64%
    AZG.SI
  • % Losers
    % Losers
    NamePriceChange% Chg
    0.48-0.13-21.31%
    BQP.SI
    0.103-0.017-14.17%
    C04.SI
    0.285-0.045-13.64%
    B49.SI
    0.535-0.055-9.32%
    BEI.SI
    0.25-0.02-7.41%
    PA3.SI