Technical analysis for crude oil – 03 May 2013 — Over the WTI crude market passed by a strong presentation during the meeting on Thursday, where he regained all the losses experienced by the market on Wednesday. In the end, we closed around $ 94.00 handle, and this, of course, refers to the level of $95.00 at the top will continue to be a level of resistance . It seems that this market wants to move away from this general area, and frankly, if you are trading in the futures markets, it is likely that you are going through severe stress condition now.
I would recommend significantly trading in the CFD market this if you have the option to do so. because you can reduce the size of the situation enough to remove some of the volatility of the equation. Of course that, the futures market are standardized contracts, which means that it can not be obtained after make trading more secure.
I think that the numbers of the non-agricultural sector salaries which will be announced today will have a significant impact on this market, as Usual. The United States, and whether the appointment or not, have a significant impact on the perception of industrial production, and most importantly in this case, the demand for industrial fuel. It is clear that this is a key element of what is happening in this market, and as a result, the trading before the release of the salaries of non-farm sectors is a bet unsecured trading.
We have to find the scope of summer
Usually, the summer comes to the scope of deliberative for this market. It seems that we try to find the area now, but frankly, the market is highly volatile to the extent that a lot of traders will most probably out of the market now rather than wait until the summer holidays. Simple, you can not fall by 3 or 2% through Wednesday, and that you completely contrary during the next parliamentary session. For this reason, the volatility certainly keep a lot of traders on the side, which, of course, may exacerbate movements in the first place. However it into consideration, I think that the level of 95 should be a kind of barrier, but starting 90.00 Msty $ now will be is also a barrier.