Technical analysis for crude oil – 26 February 2013

Technical analysis for crude oil -14 June 2013

WTI markets passed active session on Monday, as markets rose during the early hours, and fell and fell with the end of the day, and thus seemed already flexible since that point. With this, when it penetrates the summit meteor from the previous session, it is usually regarded as a strong progressive signal. This was missing on Monday, and it seems as if the vendors have entered the market again.

Usually have to risk a lot of trading commodities that suffer from the funds must sell profitable trades to cover margins mainly. (This tells us a lot about the type of money management practiced by “professionals”). This leads mostly to high decline in the trades, and by what I see, this is what happened in this market. With this, it has been the market tends in that direction anyway.

I can see the market fall to the level of $ 90.00 at the end of the matter. This level appears a large volume of support on this chart, and is also a large whole number of great psychological importance. In this case, it made sense.

But with this I see a lot of noise in this region in general, and the movement to the level of $ 90 will be intermittent likely. With this, I think we will be heading there. This is also due to the insulation on Friday, and is something that is expected to slow down the economy in the future. Oil demand is weak and on the verge of becoming weaker. I still think that the market is driven by facilitation procedures at the Federal Reserve Bank more than anything else, in that case, it may not be a low level of 90.00 $ enough.