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 MOVERS

  • Most Actives
    Most Actives
    NamePriceChange% Chg
    0.116-0.003-2.52%
    N21.SI
    0.33+0.02+4.76%
    1A0.SI
    4.05+0.03+0.75%
    Z74.SI
    0.760.00-0.65%
    BS6.SI
    0.355-0.005-1.39%
    E5H.SI
  • % Gainers
    % Gainers
    NamePriceChange% Chg
    0.24+0.05+23.71%
    BLZ.SI
    0.29+0.04+18.37%
    PA3.SI
    0.16+0.01+6.67%
    40B.SI
    0.15+0.01+6.38%
    5F4.SI
    0.625+0.025+4.17%
    P52.SI
  • % Losers
    % Losers
    NamePriceChange% Chg
    0.112-0.017-13.18%
    569.SI
    0.118-0.007-5.60%
    B9S.SI
    0.475-0.025-5.00%
    BFK.SI
    0.25-0.01-3.85%
    RC5.SI
    2.33-0.07-2.92%
    P34.SI

Market Data

  • Currencies
    Currencies
    NamePriceChange% Chg
    1.3614-0.0008-0.06%
    USDSGD=X
    1.51960.000.00%
    EURSGD=X
    1.7885-0.0011-0.06%
    GBPSGD=X
    75.7370-0.052-0.07%
    SGDJPY=X
    5.6964+0.0053+0.09%
    SGDHKD=X
    2.9909+0.0013+0.04%
    SGDMYR=X
    9,749.8525-17.6768-0.18%
    SGDIDR=X
    4.9055+0.0053+0.11%
    SGDCNY=X
    1.0266+0.003+0.29%
    AUDSGD=X
  • Commodities
    Commodities
    NamePriceChange% Chg
    1,313.70+2.30+0.18%
    GCZ16.CMX
    18.70+0.08+0.45%
    SIU16.CMX
    90.17-1.67-1.82%
    ^XAU
    2.070.00+0.05%
    HGU16.CMX
    44.89+0.19+0.43%
    CLV16.NYM
  • Bonds
    Bonds
    TreasuryYield (%)Yield Change
    1.180.00
    ^FVX
    1.570.00
    ^TNX
    2.230.00
    ^TYX