WTI crude markets fell during Thursday’s session, gaining control of state to stay away from risk on the commodity markets. I think that the $ 92.00 level will provide support somewhat. With this, I think that the market has real support below at 90.00 $ and this is something which traders would like to test.
With this into consideration, it makes sense to move the market to the end, is to the downside. Likely to move rather slowly rather than a decline in the form of free fall, so you will need European buying, some patience before making short positions in this market.
With this, I think that somewhere around the $ 90.00 level will have to have great pressure to buy again. In that case, we will look at the deliberative range between 90.00 and $ 98.00 $. This seems quite possible, especially when considering the cyclical pattern that this market tends to follow.
Fed continues to print U.S. dollars significantly, and therefore supposed to get commodity support in the end. However, people are now more focused on the fact that the Fed is ready to enter the market and protect everyone, and therefore traders will focus on the stock market. With this, you will return commodity Square when we get the kind of weakness in the U.S. dollar. And will this to happen sooner or later, because the Fed and fiscal policy.
Demand will improve in the coming months with high temperatures in the United States and we get closer to the driving season in the summer. For this reason, you will not be surprised to see this move sideways market for a period of time and then to a nearby base of 90.00 $. After that, I can see larger well of support in down to the level of $ 85.00, and therefore even if we landed below the level of $ 90.00 I can see the strengthening huge below that area and that could keep this market moving somewhat What. For this reason, I think that the volatility in the oil markets is likely to be somewhat slow.