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
    1.3570-0.0003-0.02%
    USDSGD=X
    1.5211+0.0015+0.10%
    EURSGD=X
    2.0944+0.0031+0.15%
    GBPSGD=X
    87.9001-0.0756-0.09%
    SGDJPY=X
    5.7158+0.0021+0.04%
    SGDHKD=X
    2.6564+0.0025+0.10%
    SGDMYR=X
    9,483.5371+4.4395+0.05%
    SGDIDR=X
    4.6209+0.0106+0.23%
    SGDCNY=X
    1.0577-0.0007-0.07%
    AUDSGD=X
  • Commodities
    Commodities
    NamePriceChange% Chg
    1,209.90-0.20-0.02%
    GCJ15.CMX
    16.59-0.03-0.20%
    SIK15.CMX
    75.84+0.44+0.59%
    ^XAU
    2.68-0.01-0.52%
    HGK15.CMX
    48.84+0.67+1.39%
    CLJ15.NYM
  • Bonds
    Bonds
    TreasuryYield (%)Yield Change
    1.53+0.06
    ^FVX
    2.02+0.05
    ^TNX
    2.61+0.04
    ^TYX

MARKET MOVERS

  • Most Actives
    Most Actives
    NamePriceChange% Chg
    1.005-0.055-5.19%
    N21.SI
    0.405-0.005-1.22%
    E5H.SI
    0.280.000.00%
    5WA.SI
    0.99+0.01+1.02%
    G13.SI
    0.715+0.005+0.70%
    Y92.SI
  • % Gainers
    % Gainers
    NamePriceChange% Chg
    0.165+0.025+17.86%
    40B.SI
    0.163+0.021+14.79%
    S71.SI
    0.225+0.005+2.27%
    D79.SI
    0.32+0.03+8.47%
    40U.SI
    0.16+0.01+6.67%
    PH0.SI
  • % Losers
    % Losers
    NamePriceChange% Chg
    0.143-0.010-6.54%
    5TJ.SI
    0.131-0.008-5.76%
    B32.SI
    1.005-0.055-5.19%
    N21.SI
    0.30-0.01-4.76%
    AFC.SI
    0.20-0.02-6.98%
    T06.SI