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
    1.3748-0.0016-0.12%
    USDSGD=X
    1.4741-0.0158-1.06%
    EURSGD=X
    2.0310-0.0066-0.32%
    GBPSGD=X
    87.3335+0.0442+0.05%
    SGDJPY=X
    5.6405+0.0062+0.11%
    SGDHKD=X
    2.6919-0.006-0.22%
    SGDMYR=X
    9,506.2510-10.2461-0.11%
    SGDIDR=X
    4.5102-0.0012-0.03%
    SGDCNY=X
    1.0454-0.0078-0.74%
    AUDSGD=X
  • Commodities
    Commodities
    NamePriceChange% Chg
    1,178.90-5.90-0.50%
    GCJ15.CMX
    16.50-0.18-1.07%
    SIK15.CMX
    66.52-1.21-1.78%
    ^XAU
    2.74-0.04-1.55%
    HGK15.CMX
    47.58-1.10-2.26%
    CLK15.NYM
  • Bonds
    Bonds
    TreasuryYield (%)Yield Change
    1.420.00
    ^FVX
    1.96+0.01
    ^TNX
    2.56+0.03
    ^TYX

MARKET MOVERS

  • Most Actives
    Most Actives
    NamePriceChange% Chg
    0.2850.0000.00%
    5WA.SI
    0.172+0.002+1.18%
    5GB.SI
    0.131-0.003-2.24%
    E13.SI
    0.183+0.016+9.58%
    A50.SI
    0.425-0.010-2.30%
    E5H.SI
  • % Gainers
    % Gainers
    NamePriceChange% Chg
    0.15+0.04+36.36%
    5IF.SI
    0.148+0.018+13.85%
    L10.SI
    0.155+0.018+13.14%
    K14.SI
    0.139+0.016+13.01%
    P36.SI
    0.169+0.019+12.67%
    5PI.SI
  • % Losers
    % Losers
    NamePriceChange% Chg
    0.11-0.03-23.61%
    5GF.SI
    0.22-0.03-12.00%
    O08.SI
    0.22-0.03-10.20%
    5WJ.SI
    0.116-0.013-10.08%
    V69.SI
    0.29-0.03-9.38%
    40U.SI