[achiever]

Crude


• Bearish daily reversal at the trend high
• 200 week moving average resistance
• Momentum divergence on the daily chart
• 5 wave pattern seems to be completed

All of the above suggest that Crude may have posted a significant high yesterday and the next significant directional move will be down
Support levels are at $69.14, $65.23, $62.70 and $58.32

CRB Index


• Bearish daily reversal posted yesterday suggesting further losses
• A bearish daily reversal was also posted at the trend high (as was the case with crude yesterday) on August 6th where it then fell from 264 to 252 over the following 8 sessions.
• Short term support comes in at 243 where the trend support converges with the low from July 29th