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
    1.4082-0.0035-0.25%
    USDSGD=X
    1.5870+0.0045+0.29%
    EURSGD=X
    2.1686+0.0022+0.10%
    GBPSGD=X
    85.7847-0.091-0.11%
    SGDJPY=X
    5.5031+0.0135+0.25%
    SGDHKD=X
    2.9771+0.0114+0.38%
    SGDMYR=X
    9,995.8105+47.8027+0.48%
    SGDIDR=X
    4.5226+0.0062+0.14%
    SGDCNY=X
    1.0045+0.0007+0.07%
    AUDSGD=X
  • Commodities
    Commodities
    NamePriceChange% Chg
    1,141.10+8.60+0.76%
    GCZ15.CMX
    14.64+0.05+0.34%
    SIZ15.CMX
    48.43-0.40-0.81%
    ^XAU
    2.330.00-0.17%
    HGZ15.CMX
    47.84-1.36-2.76%
    CLV15.NYM
  • Bonds
    Bonds
    TreasuryYield (%)Yield Change
    1.54+0.02
    ^FVX
    2.20+0.01
    ^TNX
    2.93+0.02
    ^TYX

MARKET MOVERS

  • Most Actives
    Most Actives
    NamePriceChange% Chg
    0.135+0.005+3.85%
    5DN.SI
    0.315+0.005+1.61%
    5WA.SI
    0.5450.0000.00%
    N21.SI
    0.735+0.015+2.08%
    5ME.SI
    0.310.00-1.59%
    E5H.SI
  • % Gainers
    % Gainers
    NamePriceChange% Chg
    0.26+0.02+10.64%
    L38.SI
    0.275+0.025+10.00%
    UQ4.SI
    0.22+0.02+10.00%
    AZR.SI
    0.30+0.03+9.09%
    AWO.SI
    0.315+0.020+6.78%
    AWI.SI
  • % Losers
    % Losers
    NamePriceChange% Chg
    0.09-0.02-18.18%
    40R.SI
    0.205-0.045-18.00%
    5NF.SI
    0.135-0.020-12.90%
    UV1.SI
    0.40-0.04-9.09%
    MN5.SI
    0.31-0.02-6.06%
    P9D.SI