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
    1.3295+0.0022+0.17%
    USDSGD=X
    1.4459+0.0013+0.09%
    EURSGD=X
    2.0247+0.0035+0.17%
    GBPSGD=X
    89.5682-0.1592-0.18%
    SGDJPY=X
    5.8292-0.0102-0.17%
    SGDHKD=X
    2.6695-0.0012-0.04%
    SGDMYR=X
    9,794.7783+38.1123+0.39%
    SGDIDR=X
    4.6690-0.0168-0.36%
    SGDCNY=X
    1.0458+0.0038+0.36%
    AUDSGD=X
  • Commodities
    Commodities
    NamePriceChange% Chg
    1,200.40-2.80-0.23%
    GCM15.CMX
    16.32-0.08-0.48%
    SIK15.CMX
    71.68+1.72+2.46%
    ^XAU
    2.75-0.02-0.78%
    HGK15.CMX
    56.30-0.69-1.21%
    CLM15.NYM
  • Bonds
    Bonds
    TreasuryYield (%)Yield Change
    1.34+0.02
    ^FVX
    1.92+0.01
    ^TNX
    2.61-0.01
    ^TYX

MARKET MOVERS

  • Most Actives
    Most Actives
    NamePriceChange% Chg
    0.635+0.005+0.79%
    F83.SI
    0.4250.0000.00%
    E5H.SI
    0.75-0.01-1.96%
    Y92.SI
    0.855+0.005+0.59%
    N21.SI
    0.355+0.005+1.43%
    J7X.SI
  • % Gainers
    % Gainers
    NamePriceChange% Chg
    0.159+0.046+40.71%
    5IF.SI
    0.53+0.08+17.78%
    570.SI
    0.45+0.02+4.65%
    UV1.SI
    0.126+0.016+14.55%
    5UA.SI
    0.21+0.02+8.25%
    5TS.SI
  • % Losers
    % Losers
    NamePriceChange% Chg
    0.44-0.03-7.37%
    CH8.SI
    0.33-0.02-5.71%
    N4E.SI
    0.335-0.020-5.63%
    593.SI
    1.305-0.075-5.43%
    S35.SI
    0.100.00-4.76%
    5DL.SI