Technical analysis for crude oil – 25 March 2013

Technical analysis for crude oil -14 June 2013

Over the WTI crude market a positive session on Friday, where Oil price rose above the level of $ 93.00 and reached almost to the level of 94.00 $. Region which is presently deliberating area was strengthened to some extent, and thus the market was too narrow. I personally think that we try to find the range and deliberative, which is likely to be between 90.00 $ and the level of 96.00 $. With this, you should adjust it with the statement that the resistance of up to 98.00 $, and hence we can see that level.

One of the things that you should remember when looking at this chart is the fact that the WTI market tends to be used in North American. In this case, it would almost be a reflection of the economic situation of the continent, and thus he is doing better than other markets such as Brent oil. With this case, it makes sense that we rise in this market and climb down in a lot of the other markets.

Employment indicators

One of the indicators that you can watch in the United States is the employment situation. For this reason, it is important the demands of unemployment in each week, in addition to the payrolls report non-farm sectors when issuing the beginning of each month. Workers is one of the key indicators used by economic analysts to measure whether the economy is improving or not, without mentioning other things such as the gross national product and industrial results.

As long as the U.S. economy continues to improve, there will be some kind of bet inherent in the crude market, and I think that Mistooy 90.00 $ will not penetrate down. With this, the economy is not moving so strong that process will continue to hack large, and in short, I expect that this will be the market confined to a trading range, and maybe even during the summer, which makes the crude market is very good for trading if you are short periods traders. In the meantime, we are trying to prepare this range in order to make it easier to market trading. you can ask any question on @MElkirsh .