Technical analysis for crude oil – 06 May 2013 — Over the WTI crude market, which had offer an excellent session on Friday. In a reaction to the data report of the non-agricultural sector in the United States, which came better than expected. This led to an improvement in almost all markets, as the U.S. indices and commodity markets were particularly strong. By the increase if buying rate, due to expectation that Oil price will rise, and as a result we were able to get through the level of $ 95 relatively easily.
The market will try to find support soon, and frankly, I think that the summit will be at the level of $ 95. until we hack above this level, it is clear that I will try to re-think in the summer scope. But there is a point where the problem will be the high oil prices, and I think that the market will not be able to rise more than $102 approx.. I think the U.S. economy will be very sensitive to the value of oil, and the surge will stop everything in its place.
next Summer Time
There comes a time summer usually a temporary lull in the volatility of this market. Summer this year will be no different, but only time is the one who will determine that. For this reason, I believe that we will eventually see a range of about $ 100 at the top (not yet proven) and $ 90 at the bottom. This pair tends to be limited in scope and that is narrow trading under $ 10. From a historical perspective. If you look back to the the history, you can see a clear scope and increased by $ 10 frequently.
Of course, there is always the possibility headliners positive and negative, but it seems that the flow of news that the economy will slow down, as the markets in general are no longer had the same degree of madness as it was 6 months ago. General behavior for the stock markets can give you an idea of how it is possible that this market behaves.