Crude Oil Year Open Tag; Closing Trend High is 53.87
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Crude Oil Year Open Tag; Closing Trend High is 53.87

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Chart Prepared by Jamie Saettele, CMT

DailyFX Trading Guides and Forecasts

-Crude continues to thrash about in a sideways manner. The consolidation is taking place following a break above important horizontal levels but be aware that positioning (COT) is extreme so the thought of this breakout failing has been forefront in my mind for weeks. If crude resumes higher, then pay attention to the median line near 56.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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