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 MOVERS

  • Most Actives
    Most Actives
    NamePriceChange% Chg
    0.172-0.002-1.15%
    N21.SI
    0.109+0.003+2.83%
    AAJ.SI
    0.121+0.006+5.22%
    40F.SI
    3.81+0.03+0.79%
    Z74.SI
    0.855-0.005-0.58%
    Y92.SI
  • % Gainers
    % Gainers
    NamePriceChange% Chg
    0.45+0.12+36.36%
    MR8.SI
    0.44+0.09+25.71%
    AWC.SI
    0.46+0.08+21.05%
    AYB.SI
    0.52+0.07+16.85%
    E8Z.SI
    0.20+0.02+10.50%
    BDN.SI
  • % Losers
    % Losers
    NamePriceChange% Chg
    0.22-0.03-13.73%
    AWI.SI
    0.155-0.015-8.82%
    F86.SI
    0.113-0.010-8.13%
    D79.SI
    0.23-0.02-8.00%
    T18.SI
    0.139-0.011-7.33%
    5NF.SI

Market Data

  • Currencies
    Currencies
    NamePriceChange% Chg
    1.4254-0.0004-0.03%
    USDSGD=X
    1.5256+0.0055+0.36%
    EURSGD=X
    1.7629+0.0042+0.24%
    GBPSGD=X
    80.2900-0.355-0.44%
    SGDJPY=X
    5.4392+0.0022+0.04%
    SGDHKD=X
    3.1173-0.0017-0.05%
    SGDMYR=X
    9,435.1650+29.3506+0.31%
    SGDIDR=X
    4.8201+0.0032+0.07%
    SGDCNY=X
    1.0753-0.0023-0.21%
    AUDSGD=X
  • Commodities
    Commodities
    NamePriceChange% Chg
    1,209.90+8.40+0.70%
    GCG17.CMX
    17.09+0.09+0.55%
    SIH17.CMX
    88.68+1.12+1.28%
    ^XAU
    2.62+0.01+0.23%
    HGH17.CMX
    52.33+0.96+1.87%
    CLG17.NYM
  • Bonds
    Bonds
    TreasuryYield (%)Yield Change
    1.94-0.01
    ^FVX
    2.47+0.01
    ^TNX
    3.05+0.01
    ^TYX