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
    1.3607+0.0019+0.14%
    USDSGD=X
    1.5517+0.0022+0.14%
    EURSGD=X
    1.9714+0.0035+0.18%
    GBPSGD=X
    78.7231-0.229-0.29%
    SGDJPY=X
    5.7038-0.0083-0.14%
    SGDHKD=X
    2.9521-0.0016-0.05%
    SGDMYR=X
    9,815.1260-11.5664-0.12%
    SGDIDR=X
    4.7814-0.0061-0.13%
    SGDCNY=X
    1.0091-0.0053-0.52%
    AUDSGD=X
  • Commodities
    Commodities
    NamePriceChange% Chg
    1,279.30+7.00+0.55%
    GCM16.CMX
    17.40+0.07+0.39%
    SIN16.CMX
    85.15+1.88+2.26%
    ^XAU
    2.160.00+0.14%
    HGN16.CMX
    44.08-0.24-0.54%
    CLM16.NYM
  • Bonds
    Bonds
    TreasuryYield (%)Yield Change
    1.21-0.03
    ^FVX
    1.75-0.04
    ^TNX
    2.61-0.04
    ^TYX

MARKET MOVERS

  • Most Actives
    Most Actives
    NamePriceChange% Chg
    0.225+0.025+12.50%
    AFC.SI
    0.415-0.010-2.35%
    N21.SI
    3.80+0.02+0.53%
    Z74.SI
    0.58-0.01-1.69%
    5HJ.SI
    0.385+0.005+1.32%
    E5H.SI
  • % Gainers
    % Gainers
    NamePriceChange% Chg
    0.225+0.025+12.50%
    AFC.SI
    1.245+0.005+0.40%
    D1R.SI
    0.705+0.005+0.71%
    UD2.SI
    0.45+0.01+2.27%
    BJE.SI
    0.1830.0000.00%
    SK3.SI
  • % Losers
    % Losers
    NamePriceChange% Chg
    0.50-0.04-7.41%
    M05.SI
    0.21-0.02-6.67%
    5RE.SI
    0.785+0.006+0.77%
    ACV.SI
    3.14-0.10-3.09%
    S63.SI
    6.75+0.02+0.30%
    D01.SI