60 Minute Bars
Chart Prepared by Jamie Saettele, CMT using Marketscope 2.0
Are you new to FX or curious about your trading IQ?
Commodity Analysis: Wrote last week that crude’s “implications are bearish below 94.79, for a break below 91.95 and possibly an extended decline.” The extended variety is already underway. The clean break of 10 month trendline support open up and eventual run on the October 2012 low at 84.04. With 5 waves down from the April 1 high, would like to short a correction of that decline.
Commodity Trading Strategy: Short order at 91.60, stop 95.00, target open
LEVELS: 84.04 85.61 87.66 89.94 91.63 93.05
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.