Barely moved the WTI contracts during Monday’s session, which is not surprising, of course, where the Americans were celebrating President’s Day. Since it was the day a federal holiday, closed many financial institutions, and the global electronic trading is available. Liquidity was very low, and as a result there was a sudden rise in the price of WTI. With this, we did not move a lot during the session.
With this, now I see this market in the area of strengthening, and as a result, I think that there will be a good opportunity for short periods traders in this market. Range in the market is currently located between the level of 95 $ and 98 $, and for this reason, we have a good place and clearly for sale and purchase. With this, I now tend to buy at the bottom for at the summit, where we usually see a continuation in these situations.
Was strong upward pattern properly, and for this reason I am not comfortable playing on the road sides. For this reason, I will buy close to the level of $ 95, and collect the profits will be when approaching the level of 98 $.
$ 100 a barrel myth or true
Level of $ 100 seems like an area that we want to reach, and as a result, I think that the market will eventually infiltration towards the top at 98 $. (This is a lot of influence on the reason which leads me to buy at this point only, and not to sell at 98 $). It is likely that the market penetration level suddenly, where the oil markets tend to do so, and therefore, I do not want to be on the wrong side of the move up.
Supposed to be a difficult level of $ 100 hack. For this reason, I think that we will find a lot of side moves in that area, and at that point, we will be re-assess the strength of the market, and the general situation in the world. In the end, it is possible to move the oil markets strongly towards the top, with the continuation of the Fed to inject liquidity in the market.