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
    1.3824+0.0022+0.16%
    USDSGD=X
    1.5347+0.0006+0.04%
    EURSGD=X
    2.0206+0.0045+0.22%
    GBPSGD=X
    80.2866+0.3018+0.38%
    SGDJPY=X
    5.6193-0.0079-0.14%
    SGDHKD=X
    2.9710+0.0065+0.22%
    SGDMYR=X
    9,867.1846+27.666+0.28%
    SGDIDR=X
    4.7692+0.012+0.25%
    SGDCNY=X
    0.9910+0.0003+0.03%
    AUDSGD=X
  • Commodities
    Commodities
    NamePriceChange% Chg
    1,205.30-17.40-1.42%
    GCQ16.CMX
    15.97-0.37-2.28%
    SIN16.CMX
    79.41-2.71-3.31%
    ^XAU
    2.100.00-0.05%
    HGN16.CMX
    49.34-0.14-0.28%
    CLN16.NYM
  • Bonds
    Bonds
    TreasuryYield (%)Yield Change
    1.39+0.04
    ^FVX
    1.85+0.03
    ^TNX
    2.65+0.02
    ^TYX

MARKET MOVERS

  • Most Actives
    Most Actives
    NamePriceChange% Chg
    0.300.00-1.64%
    N21.SI
    0.143+0.005+3.62%
    5DM.SI
    0.78+0.04+5.41%
    5HJ.SI
    0.76+0.02+3.40%
    G13.SI
    3.92-0.01-0.25%
    Z74.SI
  • % Gainers
    % Gainers
    NamePriceChange% Chg
    1.30+0.12+10.64%
    BDV.SI
    0.37+0.03+10.45%
    F03.SI
    0.88+0.08+10.00%
    G41.SI
    0.27+0.02+8.00%
    BDU.SI
    0.28+0.01+3.70%
    5TP.SI
  • % Losers
    % Losers
    NamePriceChange% Chg
    0.35-0.03-9.09%
    42E.SI
    0.181-0.017-8.59%
    BDN.SI
    0.26-0.02-7.14%
    5SY.SI
    0.335-0.025-6.94%
    BFU.SI
    0.29-0.02-6.45%
    H19.SI