Commodity Technical Analysis: Crude Bearish Trade Setup

Daily Candles

Commodity_Technical_Analysis_Crude_Bearish_Trade_Setup_body_crude.png, Commodity Technical Analysis: Crude Bearish Trade Setup

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: Today’s inside day is enough for me to short now rather than wait for a test of 9415

LEVELS: 8795 8996 9146 9415 9533 9719

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Market Data

  • Currencies
    Currencies
    NamePriceChange% Chg
    1.3727+0.0036+0.27%
    USDSGD=X
    1.5062+0.0032+0.21%
    EURSGD=X
    2.1424+0.0067+0.31%
    GBPSGD=X
    90.4422-0.1279-0.14%
    SGDJPY=X
    5.6459-0.016-0.28%
    SGDHKD=X
    2.7856-0.0002-0.01%
    SGDMYR=X
    9,805.1289-48.4219-0.49%
    SGDIDR=X
    4.5238-0.0109-0.24%
    SGDCNY=X
    1.0010+0.003+0.30%
    AUDSGD=X
  • Commodities
    Commodities
    NamePriceChange% Chg
    1,085.10-8.20-0.75%
    GCZ15.CMX
    14.62-0.12-0.80%
    SIU15.CMX
    48.37+0.90+1.91%
    ^XAU
    2.39-0.02-0.66%
    HGU15.CMX
    48.90+0.11+0.23%
    CLU15.NYM
  • Bonds
    Bonds
    TreasuryYield (%)Yield Change
    1.61+0.02
    ^FVX
    2.28+0.03
    ^TNX
    2.99+0.03
    ^TYX

MARKET MOVERS

  • Most Actives
    Most Actives
    NamePriceChange% Chg
    0.52-0.07-11.86%
    N21.SI
    0.31-0.01-4.62%
    E5H.SI
    0.140.00+2.94%
    5DN.SI
    0.91+0.03+3.41%
    5ME.SI
    0.310.00-1.59%
    5WA.SI
  • % Gainers
    % Gainers
    NamePriceChange% Chg
    0.199+0.049+32.67%
    5MQ.SI
    0.45+0.09+25.00%
    K1Q.SI
    0.65+0.09+16.07%
    L5I.SI
    0.295+0.035+13.46%
    PA3.SI
    0.445+0.050+12.66%
    42C.SI
  • % Losers
    % Losers
    NamePriceChange% Chg
    0.23-0.06-20.69%
    5NF.SI
    0.128-0.018-12.33%
    5TJ.SI
    0.16-0.02-11.11%
    AVX.SI
    0.52-0.07-11.86%
    N21.SI
    0.435-0.050-10.31%
    MN5.SI