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
    1.3645-0.001-0.07%
    USDSGD=X
    1.5271+0.0001+0.01%
    EURSGD=X
    2.0977+0.0001+0.01%
    GBPSGD=X
    87.7468-0.2466-0.28%
    SGDJPY=X
    5.6835+0.0039+0.07%
    SGDHKD=X
    2.6610+0.0018+0.07%
    SGDMYR=X
    9,494.6914-22.7119-0.24%
    SGDIDR=X
    4.5975+0.0035+0.08%
    SGDCNY=X
    1.0607+0.001+0.10%
    AUDSGD=X
  • Commodities
    Commodities
    NamePriceChange% Chg
    1,220.00+6.90+0.57%
    GCJ15.CMX
    16.74+0.18+1.10%
    SIK15.CMX
    75.26-1.68-2.18%
    ^XAU
    2.71+0.02+0.65%
    HGK15.CMX
    49.23-0.53-1.07%
    CLJ15.NYM
  • Bonds
    Bonds
    TreasuryYield (%)Yield Change
    1.58+0.07
    ^FVX
    2.08+0.08
    ^TNX
    2.68+0.09
    ^TYX

MARKET MOVERS

  • Most Actives
    Most Actives
    NamePriceChange% Chg
    0.42+0.02+5.00%
    E5H.SI
    0.069-0.048-41.03%
    F3V.SI
    1.005+0.060+6.35%
    N21.SI
    100.005-0.009-0.01%
    41H.SI
    0.280.000.00%
    5WA.SI
  • % Gainers
    % Gainers
    NamePriceChange% Chg
    0.495+0.050+11.24%
    5FQ.SI
    0.275+0.015+5.77%
    AFC.SI
    1.005+0.060+6.35%
    N21.SI
    0.315+0.015+5.00%
    40U.SI
    0.335+0.020+6.35%
    5EN.SI
  • % Losers
    % Losers
    NamePriceChange% Chg
    0.069-0.048-41.03%
    F3V.SI
    0.142-0.018-11.25%
    C3T.SI
    0.37-0.03-7.50%
    578.SI
    0.44-0.03-6.38%
    570.SI
    0.141-0.008-5.37%
    B73.SI