Technical analysis for crude oil – 08 April 2013

Technical analysis for crude oil -14 June 2013

WTI crude market downturn during the session on Friday, as the numbers payrolls report U.S. non-agricultural sector was at half of what was expected. But you can see that the $ 92.00 level offers enough support to make this market rebound and be a hammer. It is difficult to see what will happen next, after the next few dollars, as the market seems stiff.

Light as the season approaches, I can not help but wonder whether traders are trying to find the range that will settle the market during the spring and summer. However, I can see a large volume of support below the level of 90.00 $, and I do not think that we will penetrate below that level any time soon. Hammer we formed during Friday’s session of the imperative to refer to it as well, and has been $ 92.00 level quite supportive enough for this market.

On the other hand, seems $ 98.00  very attractive resistant level. For this reason, for this reason, I think that the market will soon be limited in scope, since the heights form the previous level of 98.00 $ and dips around the $ 92.00 level almost, or even $ 90.00 if we were able to penetrate below the bottom of the range on Friday. In any case, the main theme here is that this market will be short periods traders market in the near future.

Market specified scope of deliberative possible to achieve large profits
If you have the ability to trade in the market within the short-term ranges, reaching a trading range which is a very profitable way to enter the market. We simply sell to the heights, and through the level you expect. The fact that the market wants to pulsing significantly should not be surprising, as the proverb “Sell in May and further away” may be feasible here. We have seen periods of selling “is far from risk” dramatically after March over the past three years in a row, and so I think we may be in preparation for entry to that area again. During that time period, rebounding oil significantly, but if you’re graceful, be an excellent market for trading.