Oil price technical analysis 5-2-2013

Technical analysis for crude oil -14 June 2013

NYMEX WTI prices trading in March with a modest decline on Tuesday, lying sharp decline that we have seen during the previous day. Oil futures for NYMEX crude for March settled to fell by $ 1.60 at $ 96.17 a barrel, after trading between $ 95.96 and $ 97.76.

WTI prices has become the subject of some selling pressure after the recent movement equipped risk in Europe correct low, with investor sentiment being shaken because of the recent allegations of corruption against the Spanish government.

Booked prices of WTI this morning in a narrow range, after the sharp decline on Monday, passiveness of daily price fall by $ 95.91 to high $ 96.14 a barrel, and futures for WTI for March traded now at $ 96.00 a barrel, down by 17 cents during the session. With regard to procurement, will be issued “American Petroleum Institute” his weekly later on Tuesday, while the “U.S. Department of Energy” will be released weekly data on Wednesday at 15:30 GMT.