Chart Prepared by Jamie Saettele, CMT
DailyFX Trading Guides and Forecasts
Real Time Positioning
-“I’m positive on crude as long as the trendline holds. Now that’s a hold! Lows from January and February stretch from 50.69 to 51.25. The upper end of this range looks like the ‘best’ level for resistance (trendline intersection).” Crude is a few ticks from the upper end of the noted range. As such, respect potential for a pause in the move higher but the broader constructive outlook remains.