Commodity Technical Analysis: Crude Consolidation Tightens

Weekly Bars

Commodity_Technical_Analysis_Crude_Consolidation_Tightens_body_crude.png, Commodity Technical Analysis: Crude Consolidation Tightens

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.” Near term consolidation may compose a triangle, in which case a terminal thrust will complete at higher levels.

Commodity Trading Strategy: Nothing.

LEVELS: 8795 8996 9146 9415 9533 9719

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Market Data

  • Currencies
    Currencies
    NamePriceChange% Chg
    1.3498-0.0004-0.03%
    USDSGD=X
    1.4713+0.0029+0.20%
    EURSGD=X
    2.0764-0.0007-0.04%
    GBPSGD=X
    91.4038+0.2506+0.27%
    SGDJPY=X
    5.7450+0.0037+0.06%
    SGDHKD=X
    2.69520.000.00%
    SGDMYR=X
    9,788.8838-11.1543-0.11%
    SGDIDR=X
    4.5964+0.0019+0.04%
    SGDCNY=X
    1.0437-0.0008-0.08%
    AUDSGD=X
  • Commodities
    Commodities
    NamePriceChange% Chg
    1,186.00-0.90-0.08%
    GCM15.CMX
    16.70-0.05-0.27%
    SIN15.CMX
    68.69-2.56-3.59%
    ^XAU
    2.780.00+0.04%
    HGN15.CMX
    58.81+0.78+1.34%
    CLN15.NYM
  • Bonds
    Bonds
    TreasuryYield (%)Yield Change
    1.52-0.04
    ^FVX
    2.14-0.08
    ^TNX
    2.89-0.09
    ^TYX

MARKET MOVERS

  • Most Actives
    Most Actives
    NamePriceChange% Chg
    0.71+0.01+1.43%
    Q1P.SI
    0.805-0.020-2.42%
    N21.SI
    0.290.000.00%
    5WA.SI
    0.34+0.01+3.03%
    AFC.SI
    0.20+0.01+3.63%
    5OU.SI
  • % Gainers
    % Gainers
    NamePriceChange% Chg
    1.25+0.24+23.15%
    AYO.SI
    0.189+0.031+19.62%
    GJ8.SI
    0.30+0.05+17.65%
    AYE.SI
    0.149+0.014+10.37%
    L10.SI
    0.16+0.02+10.34%
    5GI.SI
  • % Losers
    % Losers
    NamePriceChange% Chg
    0.19-0.06-24.00%
    41H.SI
    1.48-0.30-16.85%
    AYB.SI
    1.32-0.21-13.73%
    AYN.SI
    0.12-0.02-13.04%
    5IF.SI
    0.375-0.040-9.64%
    AWK.SI