Technical analysis for crude oil – March 4, 2013

Technical analysis for crude oil -14 June 2013

WTI crude markets fell during the session on Friday, and it rebound hammer problem. I’ve been talking for some time about the probability of support at 90.00 $, and seems to have arrived during that meeting. Produced a significant rebound level of level of $ 1.00, and as a result, hammer and looks as if it will be strong. With this, there are many factors that wave in the same time, and this could keep the market very volatile.

Fed continues relatively lax in its policy, and as a result, it is assumed that the dollar will continue to decline. With this, this is not what happens at all, as that elections Alaataliah dropped a lot of uncertainty in the markets in general, causing the control of trading operations that are far from risk markets.

Must begin oil markets better and progress if we could get this kind of stability in the currency markets. Ironically, the most important man should be monitored actually may be the euro / U.S. dollar, although the Europeans to Sawa oil from the centers of power. The fact that the U.S. dollar continues to gain strength, and as a result we need fewer dollars to buy oil. This is the fault of the euro and the pound sterling mainly.

A new scope on the market?
I think we’ll be seeing a new domain in this market now. I think that the level of 90.00 $ will Ikdmm support and the area below it will be crowded. Supposed to continue this in the support along the way down to the level of $ 85.00, and so I think that the path of least risk of higher long-term. The top of this range probably will be at 98.00 $, and therefore I think we form a new range strengthening.

Add to this that we are not far from the level of leadership in the United States, and demand will definitely rise as a result. Supposed to keep this matter on the markets somewhat high in the future, and therefore intend to enter in this range. Hack out session highs on Friday will push me to buy.