Technical analysis for crude oil – 25 April 2013

Technical analysis for crude oil -14 June 2013

WTI crude rose during the session on Wednesday as it reached $ 91.55 at the end of the crisis. And you have been recently reported that the $ 92.00 level will be the beginning of a strong resistance, and feel as the area on the way down to the level of 92.50 $. It is very likely that this area will resist this market, but I have to admit that candle that we shape during the hearing on Wednesday was already strong.

As I have to admit also that the fact that the United States has announced that the inventory numbers added only half of what was expected, it seems that there is a greater amount of raw fuel used than was previously indicated. It possible to have this engine in the forward markets, and as a result, the resistance area just above $ 92.00 does not look as strong as it was 24 hours ago.

However, because of this I think I will wait until the end of the session in order to made a decision. I’m ready to start racing to take a short position on the bollards very vulnerable at this point, but I have no doubt that this market could penetrate at this point. With this case, I want to see a daily close above the $ 92.50 level in order to be comfortable enough to start buying. On the other hand, this region looks a major candidate for the formation of the type of from Shehab candle or something close to it, and it will be a sell signal for me.

The next day or two will be crucial

The next two days will be very important as we approach this region. Frankly, the market rose rapidly during the meeting, and therefore now that I wonder whether we have sufficient capacity to hack. Many times, when you see a sudden rise eyeballs this, do not be sufficiently supported by direct penetration. With this, as I mentioned earlier, this is the kind of market that contains twists and everything you want to see is a daily closing gives at least some kind of confirmation before risking any capital at this point.