Technical analysis for crude oil – 20 May 2013 — WTI crude market has seen a lot of volatility recently. despite the fact that Oil price passed through a positive session on Friday. But frankly i can say that Oil price did not find a stable trend yet, in other words, Oil price did not determined yet its deliberative area and within Oil is going up and down.
The trading in Oil market became more difficult than before, and as a result, we have been forced to look at these shorter time frames in order to find little support and resistance areas. This has become your kind of market speculation. The greatest probability tends to range between $ 92.00 and $ 98.00. However, there is still a lot of interruptions to make sure of that, but it is the expected summer trend.
Stop loss points and might be the expected option
The way they should be trading in this market forward will be through the use of stop loss points, or perhaps instead of playing options in the futures market itself. Who can you play in the CFD market can use it too, simply because he can overcome problems through the use of a more roughness Unlike standard futures contract in full.
In the meantime, I think that the $ 97.00 level offers enough resistance to be a problem. On the other hand, I think that this market will find enough support at the $ 95.50 level as well, and for this reason, I believe that a short-term trader can do a good performance in this area in general.
Recent price action looks like trying to move down a little bit, so the expectations that when we get to the meeting on Monday, it is possible to have a bit of decline. However, you will be risky generally, if I thought that this market will be sold with any degree overly now, for this reason, I expect that we have a drop by almost $ 1 during the interim.