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
    1.3524-0.0007-0.05%
    USDSGD=X
    1.4967+0.0008+0.05%
    EURSGD=X
    2.1110-0.0022-0.10%
    GBPSGD=X
    91.2418+0.2208+0.24%
    SGDJPY=X
    5.7318+0.0026+0.05%
    SGDHKD=X
    2.7862+0.0046+0.17%
    SGDMYR=X
    9,873.1963+10.6416+0.11%
    SGDIDR=X
    4.5898+0.0092+0.20%
    SGDCNY=X
    1.0339-0.001-0.10%
    AUDSGD=X
  • Commodities
    Commodities
    NamePriceChange% Chg
    1,167.20-2.10-0.18%
    GCQ15.CMX
    15.54-0.04-0.24%
    SIU15.CMX
    61.37-1.77-2.81%
    ^XAU
    2.64+0.01+0.25%
    HGU15.CMX
    56.96+0.01+0.02%
    CLQ15.NYM
  • Bonds
    Bonds
    TreasuryYield (%)Yield Change
    1.70+0.07
    ^FVX
    2.42+0.08
    ^TNX
    3.20+0.09
    ^TYX

MARKET MOVERS

  • Most Actives
    Most Actives
    NamePriceChange% Chg
    0.305+0.005+1.67%
    5WA.SI
    0.845+0.015+1.81%
    N03.SI
    0.1680.0000.00%
    5DN.SI
    0.7550.0000.00%
    N21.SI
    0.215+0.019+9.69%
    TI6.SI
  • % Gainers
    % Gainers
    NamePriceChange% Chg
    0.24+0.05+26.32%
    40U.SI
    0.72+0.10+16.13%
    AWN.SI
    1.33+0.15+12.71%
    AXL.SI
    0.46+0.05+12.20%
    BAJ.SI
    0.28+0.03+12.00%
    L38.SI
  • % Losers
    % Losers
    NamePriceChange% Chg
    0.175-0.120-40.68%
    AZS.SI
    0.19-0.05-19.15%
    AZX.SI
    0.28-0.04-12.50%
    UV1.SI
    0.156-0.019-10.86%
    P36.SI
    0.138-0.014-9.21%
    583.SI