Commodity Technical Analysis: Crude Inching Towards Fibonacci Level and Trendline

Weekly Bars

Commodity_Technical_Analysis_Crude_Inching_Towards_Fibonacci_Level_and_Trendline_body_crude.png, Commodity Technical Analysis: Crude Inching Towards Fibonacci Level and Trendline

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: After initially selling off sharply following the 1/3 inside day, crude is pressing the highs and focus is back on the mentioned Fibonacci level and trendline.

LEVELS: 8795 8996 9146 9415 9533 9719

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Market Data

  • Currencies
    Currencies
    NamePriceChange% Chg
    1.2512-0.0019-0.15%
    USDSGD=X
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    EURSGD=X
    2.1019+0.0059+0.28%
    GBPSGD=X
    81.7850+0.4887+0.60%
    SGDJPY=X
    6.1988+0.0114+0.19%
    SGDHKD=X
    2.5921+0.0034+0.13%
    SGDMYR=X
    9,161.0518+36.042+0.39%
    SGDIDR=X
    4.9759+0.0112+0.23%
    SGDCNY=X
    1.1717-0.0014-0.12%
    AUDSGD=X
  • Commodities
    Commodities
    NamePriceChange% Chg
    1,303.80+3.50+0.27%
    GCM14.CMX
    19.64+0.15+0.75%
    SIK14.CMX
    91.87
    ^XAU
    3.04+0.05+1.82%
    HGK14.CMX
    104.66+0.91+0.88%
    CLK14.NYM
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    Bonds
    TreasuryYield (%)Yield Change
    1.63
    ^FVX
    2.64
    ^TNX
    3.48
    ^TYX

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  • Most Actives
    Most Actives
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    B22.SI
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    N21.SI
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    JS8.SI
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    E5H.SI
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    B20.SI
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    5UL.SI
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    567.SI
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    540.SI
    0.67+0.050+8.06%
    5VT.SI
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    5FD.SI
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