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
    1.3520+0.0052+0.38%
    USDSGD=X
    1.4975-0.0031-0.21%
    EURSGD=X
    2.1112-0.0052-0.24%
    GBPSGD=X
    91.0086+0.1339+0.15%
    SGDJPY=X
    5.7339-0.0215-0.37%
    SGDHKD=X
    2.7856-0.0038-0.13%
    SGDMYR=X
    9,870.5557-45.1973-0.46%
    SGDIDR=X
    4.5869-0.0201-0.44%
    SGDCNY=X
    1.0356-0.0022-0.21%
    AUDSGD=X
  • Commodities
    Commodities
    NamePriceChange% Chg
    1,169.90-1.90-0.16%
    GCQ15.CMX
    15.60+0.01+0.09%
    SIU15.CMX
    62.44-0.70-1.11%
    ^XAU
    2.63+0.02+0.69%
    HGU15.CMX
    57.61-1.86-3.13%
    CLQ15.NYM
  • Bonds
    Bonds
    TreasuryYield (%)Yield Change
    1.69+0.06
    ^FVX
    2.41+0.08
    ^TNX
    3.20+0.09
    ^TYX

MARKET MOVERS

  • Most Actives
    Most Actives
    NamePriceChange% Chg
    0.30+0.01+1.69%
    5WA.SI
    0.755-0.005-0.66%
    N21.SI
    0.260.00+1.96%
    AFC.SI
    4.26+0.05+1.19%
    Z74.SI
    0.305-0.025-7.58%
    R14.SI
  • % Gainers
    % Gainers
    NamePriceChange% Chg
    0.22+0.05+27.91%
    AWR.SI
    0.194+0.040+25.97%
    AYE.SI
    2.40+0.48+25.00%
    S91.SI
    0.265+0.030+12.77%
    5PL.SI
    0.36+0.04+12.50%
    5NF.SI
  • % Losers
    % Losers
    NamePriceChange% Chg
    0.187-0.128-40.63%
    AZR.SI
    0.12-0.05-27.27%
    40R.SI
    1.18-0.43-26.71%
    AXL.SI
    0.88-0.20-18.52%
    AWG.SI
    0.41-0.09-18.00%
    BAJ.SI