Crude Oil's Retracements Suggest Range Is Ready to Resolve
From Minyanville - Currencies
November 26, 2012 - 2:02pm
The following are the latest daily summaries of my ongoing intraday coverage providing context to interpret price action. Any prices listed are for a contract's current "front month." Their direction tends to correlate with any ETFs listed for each. Today's Highlight: Crude oil's consecutive 61.8% retracements suggest the range is ready to resolve in one direction or the other. I would hope that means down because upside breakouts like the one indicated typically begin with some geopolitical event. Dollar Basket Dec Contract DX; (NYSEARCA:UUP) (NYSEARCA:UDN) Monday's narrow inside day consolidated Thursday's and Friday's decline from Tuesday's and Wednesday's test of
November 26, 2012 - 2:02pm
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