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Crude Breakout or Fakeout-Critical Next Few Days

Jamie Saettele, CMT

Daily

eliottWaves_oil_body_Picture_2.png, Crude Breakout or Fakeout-Critical Next Few Days
eliottWaves_oil_body_Picture_2.png, Crude Breakout or Fakeout-Critical Next Few Days

Chart Prepared by Jamie Saettele, CMT using Marketscope 2.0

Automate trades with Mirror Trader and see ideas on other USD crosses

-The next few days are critical to the next big move in crude. The market has broken the line that extends off of the August and March highs but remains below the March high (105.19). The current level is also marked by the 61.8% retracement from the 2013 high-at 104.19.

LEVELS: 99.89 101.61 102.90 | 104.73 106.38 107.58

--Trading specifics (setups with entries, stops, targets) are availabletoJ.S. Trade Desk members.


original source

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