{"id":61356,"date":"2013-02-21T14:33:30","date_gmt":"2013-02-21T03:33:30","guid":{"rendered":"http:\/\/www.fnarena.com\/index.php\/2013\/02\/21\/bearish-price-action-wti-oil\/"},"modified":"2013-02-21T14:33:30","modified_gmt":"2013-02-21T03:33:30","slug":"bearish-price-action-wti-oil","status":"publish","type":"post","link":"https:\/\/staging.fnarena.com\/index.php\/2013\/02\/21\/bearish-price-action-wti-oil\/","title":{"rendered":"Bearish Price Action WTI Oil"},"content":{"rendered":"

\n\tCrude Breaks Range Low to Confirm Recent Bearish Action<\/strong><\/p>\n

\n\tBy Jamie Saettele<\/span>, CMT<\/span>, Sr. Technical Strategist<\/p>\n

\n\tCommodity Analysis: Crude confirmed last Wednesday’s “outside day (2\/13) reversal” by breaking below the recent range. COT data reveals a sentiment extreme as well. Focus shifts to bearish targets, which are determined by extending the width of the recent range by the range low (breakout level) and Fibonacci multiples of the range low. The math reveals objective on the chart. The most significant is probably the 2.618 target, which is within 20 cents of the 61.8% retracement<\/span> of the rally from 8404.<\/p>\n

\n\tCommodity Trading Strategy: Risk is moved down to 9750.<\/p>\n

\n\t\"\"<\/p>\n

\n\tLEVELS: 9151 9264 9379 9579 9681 9746<\/p>\n

\n\tRe-published with permission. The views expressed are not by association FNArena's<\/span> (see our disclaimer).<\/p>\n

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\n\tTechnical limitations<\/strong><\/p>\n

\n\tIf you are reading this story through a third party distribution channel and you cannot see charts included<\/span>, we apologise<\/span>, but technical limitations are to blame.<\/em><\/strong><\/p>\n

\n\tFind out why FNArena<\/span> subscribers like the service so much: "Your Feedback (Thank You)<\/a>" – Warning this story contains unashamedly positive feedback on the service provided.<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

FXCM technical strategist Jamie Saettele reports last night’s price action in WTI has likely confirmed a bearish bias.<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[7],"tags":[24],"acf":[],"_links":{"self":[{"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/posts\/61356"}],"collection":[{"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/comments?post=61356"}],"version-history":[{"count":0,"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/posts\/61356\/revisions"}],"wp:attachment":[{"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/media?parent=61356"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/categories?post=61356"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/tags?post=61356"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}