Technical analysis for crude oil -10 June 2013

Technical analysis for crude oil -14 June 2013

WTI crude markets fell initially on Friday, but recovered well and booms to the level of $96.00 . The resulting candle looks somewhat positive for me, but I have to admit that I still think that the market is currently located in the area of ​​consolidation, and that the top of the area is at 97.00 $. In that case, it will be very difficult to start racing to buy at this point.

However, I do not see a weakness in this market to the point leads me to believe that the sale is also wise disposition. In other words, I am currently “stuck” at this point, where I was waiting for some kind of signal resistance, or candle positive long penetrate the barrier of 97.00 $. Until then, this market will be the market is scary for anyone who wants to try to take a short position in it.

 

When withstand the consolidation area, as do a long time ago, I usually look at the external borders of the consolidation area for guidance on the path that must be Oslleke. I think that the short position in this market right on the candle resistance at around 97.00 $ will be the way in which will personally Oslkha, but I want to see at least candle resistance on the hourly market for even thinking of doing so. On the other hand, I also because I see weakness in other commodities to move this point to the house.

In the front, I can see much in the way of resistance in order to think that this market will rise effortlessly. Also, if we see the dollar rise again as of late Friday, it is possible that the oil markets will be sold heavily. We will have to wait and see, but I still think the approaching summer it will be hard to imagine that there is some kind of big movement in the oil markets is about to happen.