Technical analysis for crude oil – 30 April 2013 — the WTI crude market passed over a strong presentation during the session on Monday again, which moved to the top and broke back above the handle of $ 95.00, and I feel that the market at this level it is possible to move a lot to the top If we got it. But I think now that there is a big cause for concern if you are traders prefer the Upward movement.
Seems that the level of $ 95.00 is significant resistance level, and that the level of $ 92.00 is a strong support level. In this case, it is possible to form a kind of consolidation area, which is length approximately $ 3. In that case. It is possible to see a lot of choppy trading in the near term, as the market will try to penetrate down to the second end of the trading area.
We get into the warmer months, and there is a possibility that the former adage “sell in May and go away” will be applied. In that case, it is possible to be very calm oil markets during these times, with the exception of the type of international headlines that shocked the world, and that usually comes from the Middle East.