Analysis and Recommendations:

Crude Oil is trading at 106.95 after hitting a high of 107.34.

Crude like all the other commodities and currencies are taking a wait see until the Fed rate decision and FOMC minutes. Crude has fluctuated today on the movement of the dollar. Increased market sentiment in Germany gave it a bump, but increases in US retail sales did not change the course of the charts.

It is just time to sit back and wait along with everyone else.

width=645

Economic Events: (GMT)

WEEKLY

Crude Oil Pivot Points (Time Frame: 1 Day)

 

Name S3 S2 S1 Pivot R1 R2 R3

Classic
104.087
104.873
105.777
106.563
107.467
108.253
109.157

Fibonacci
104.873
105.519
105.918
106.563
107.209
107.608
108.253

Camarilla
106.215
106.370
106.525
106.563
106.835
106.990
107.145

Woodie's
-
104.903
105.835
106.593
107.525
108.283
-

DeMark's
-
-
107.860
106.760
106.170
-
-