Commodity Technical Analysis: Crude Inside Day Aids in Strategy

Daily Bars

Commodity_Technical_Analysis_Crude_Inside_Day_Aids_in_Strategy_body_crude.png, Commodity Technical Analysis: Crude Inside Day Aids in Strategy

Chart Prepared by Jamie Saettele, CMT

Commodity Observations: “The emotional nature of the market in recent days is consistent with exhaustion however. Watch 8363 and the 100% extension just above 80 for market reactions.” An inside day formed today. Thursday’s price extremes can be used as points of reference to trade from.

Commodity Trading Strategy Implications: Exceeding Thursday’s high would warrant a bullish stance and dropping below Wednesday’s low would present an opportunity for bearish continuation against Thursday’s high.

LEVELS: 8073 8209 8363 8569 8740 8919

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Market Data

  • Currencies
    Currencies
    NamePriceChange% Chg
    1.4121-0.0006-0.04%
    USDSGD=X
    1.5941-0.0037-0.23%
    EURSGD=X
    2.1604-0.0018-0.08%
    GBPSGD=X
    85.1137+0.5881+0.70%
    SGDJPY=X
    5.4879+0.0018+0.03%
    SGDHKD=X
    2.9629-0.0059-0.20%
    SGDMYR=X
    9,964.9775+25.1113+0.25%
    SGDIDR=X
    4.5073+0.0006+0.01%
    SGDCNY=X
    0.9911+0.0001+0.01%
    AUDSGD=X
  • Commodities
    Commodities
    NamePriceChange% Chg
    1,137.30-2.50-0.22%
    GCZ15.CMX
    14.58-0.04-0.27%
    SIZ15.CMX
    46.81-1.62-3.34%
    ^XAU
    2.29-0.01-0.37%
    HGZ15.CMX
    44.04-1.37-3.02%
    CLV15.NYM
  • Bonds
    Bonds
    TreasuryYield (%)Yield Change
    1.50-0.04
    ^FVX
    2.17-0.03
    ^TNX
    2.930.00
    ^TYX

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