Oil

Crude at Critical Long Term Juncture

July 15, 2011
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Crude at Critical Long Term Juncture

Weekly Bars Prepared by Jamie Saettele, CMT Keep abreast of the longer term picture in Crude, which is quite clear. The rally from the 2009 low is in 3 waves (which is corrective) and the 2 bull legs of the move are roughly equal. The decline from the ytd high is not impulsive but...

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Crude Large Range Underway – Resistance Above 10300

July 13, 2011
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Crude Large Range Underway – Resistance Above 10300

240 Minute Bars Prepared by Jamie Saettele, CMT Crude is probing its high and a move above 99.42 would shift focus to the 100% extension of the rally from 89.61, at 103.36. This level lines up with highs throughout May. The 3 wave structure of the decline from the May high gives scope to...

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Crude Rally Left as a Correction – Downtrend Resumes

July 13, 2011
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Crude Rally Left as a Correction – Downtrend Resumes

Daily Bars Prepared by Jamie Saettele, CMT The rally from the low in crude is left in 3 waves, which leaves crude vulnerable. The implications are for weakness below 89.55 (June low) in an extended C wave decline. Exceeding 99.42 would negate the bearish bias. Trend Strength (M,W,D) – 0, 0, 0 Latest Video...

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Crude Vulnerable to Sharp Decline From Here

July 13, 2011
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Crude Vulnerable to Sharp Decline From Here

Daily Bars Prepared by Jamie Saettele, CMT The rally from the low in crude is left in 3 waves, which leaves crude vulnerable. The implications are for weakness below 89.55 (June low) in an extended C wave decline. Exceeding 99.42 would negate the bearish bias. Trend Strength (M,W,D) – 0, 0, 0 Latest Video...

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