Commodity Technical Analysis: Crude Inside Day Suggestive of Basing

Daily Bars

Commodity_Technical_Analysis_Crude_Inside_Day_Suggestive_of_Basing_body_crude.png, Commodity Technical Analysis: Crude Inside Day Suggestive of Basing

Chart Prepared by Jamie Saettele, CMT

Commodity Analysis: The inside day near the midpoint of the recent range following the headline decline from the previous day may signal basing before crude makes another bull run. The rally from Wednesday’s low is impulsive and does warrant a constructive view against the Tuesday’s low.

Commodity Trading Strategy: Look higher against Tuesday’s low towards the top of the range.

LEVELS: 8404 8500 8616 8850 8976 9029

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Market Data

  • Currencies
    Currencies
    NamePriceChange% Chg
    1.2527+0.0004+0.03%
    USDSGD=X
    1.7303+0.0001+0.01%
    EURSGD=X
    2.1030-0.0011-0.05%
    GBPSGD=X
    81.8724+0.0901+0.11%
    SGDJPY=X
    6.1900-0.002-0.03%
    SGDHKD=X
    2.5868+0.0013+0.05%
    SGDMYR=X
    9,116.2734-2.5889-0.03%
    SGDIDR=X
    4.9688-0.0016-0.03%
    SGDCNY=X
    1.1686-0.0002-0.02%
    AUDSGD=X
  • Commodities
    Commodities
    NamePriceChange% Chg
    1,294.00-7.90-0.61%
    GCQ14.CMX
    19.60+0.02+0.08%
    SIK14.CMX
    90.18-0.65-0.72%
    ^XAU
    3.05+0.02+0.51%
    HGK14.CMX
    104.30+0.83+0.80%
    CLK14.NYM
  • Bonds
    Bonds
    TreasuryYield (%)Yield Change
    1.73+0.08
    ^FVX
    2.72+0.08
    ^TNX
    3.52+0.06
    ^TYX

MARKET MOVERS

  • Most Actives
    Most Actives
    NamePriceChange% Chg
    0.115-0.002-1.71%
    B22.SI
    0.48+0.020+4.35%
    5GJ.SI
    2.27+0.090+4.13%
    5ME.SI
    2.190.0000.00%
    JS8.SI
    0.61+0.005+0.83%
    E5H.SI
  • % Gainers
    % Gainers
    NamePriceChange% Chg
    0.162+0.034+26.56%
    5GF.SI
    0.20+0.034+20.48%
    5WD.SI
    0.59+0.050+9.26%
    L5I.SI
    0.28+0.020+7.69%
    C33.SI
    0.215+0.015+7.50%
    5UE.SI
  • % Losers
    % Losers
    NamePriceChange% Chg
    0.103-0.010-8.85%
    5OS.SI
    0.112-0.008-6.67%
    5RC.SI
    0.355-0.025-6.58%
    KJ9.SI
    0.215-0.015-6.52%
    F9M.SI
    0.29-0.020-6.45%
    5PC.SI