Technical analysis for crude oil – April 15, 2013

Technical analysis for crude oil -14 June 2013

Technical analysis for crude oil – April 15, 2013– WTI crude market slump dramatically during Friday’s session, as commodities in general got a hit. This is a recurring theme in the whole commodities sector, and as a result we have seen many of the fundamentals of commodity markets collapse. Gold broke through the level of $ 1,500 Finally, silver is testing the bottom of its support area now. And is the same way I see the oil market now, very similar to the silver market.

In the front, it is clear that the level of $ 90.00 should hold as support in order to continue in any kind of move upward at this point. I still think that there is a very strong chance that we’re trying to get the kind of scale, but I have also recently indicated only that the long-term analysis for the market seem to be trying to form a kind of symmetrical triangle as well.

Fiscal policy of the Fed

One of the biggest changes in the oil market now is the Fed and fiscal policy. If there is real concern that the Fed may increase interest rates sooner than expected, will be re-pricing of commodities in general. There are murmurs Fed recently that there are many members who began to think that maybe you should modify the fiscal policy much sooner than expected asset markets. In that case, it is possible that we begin to see real declines in commodity markets around the world. In the end, one of the things that were paid market upward was the idea that the money will be cheap in the near future. With this, I will monitor this area in general, as I think that the level of $ 90.00 will be vital. Close on Monday will be very interesting, and may predispose to the next movement.