Here’s a selection from our most recent “The Week Ahead” post for subscribers at Trading On The Mark.
Crude Oil
The good news for bears was CL dropped under 68.59 and tested 64.67. The bad news is how hard they moved up off that test of support. This recovery is strong enough that I have to allow for another high before starting down in (a) of [ii]. Alternate would have [i] in and the drop perhaps as ‘a of (a)’ and now in ‘b of (a)’ but have to score the alternate as low probability because of the strength last week.
Trading On The Mark provides detailed, nuanced analysis for a wide range of markets including crude oil, the S&P 500, currencies, gold, and treasuries. We offer subscriptions to daily and intraday analysis.