Crude Oil Prices for the week of October 15, 2012, Technical

Get Forex buy/sell signals directly to your email and by SMS.
To learn more click here

The light sweet crude markets had a positive week of the last five sessions, as the $90 level continues to hold as support. This market still looks as if it wants to fluctuate between the $90 level, and possibly the $100 level. There is without a doubt a bit of a bid in the market due to quantitative easing of the Federal Reserve, and as such we think that this market will have a hard time falling below the bottom support at $80.

As we move forward, we would suspect that we are going to see range bound trading and will leave and as such. This is a decent market to trade the CFD markets and, simply because it allows you to crush some of the leverage that you would normally apply. As long as we can stay over $90, we feel that this is a reasonable long.

Crude Oil Prices for the week of October 15, 2012, Technical

Crude Oil Prices for the week of October 15, 2012, Technical

Want to read more articles like this one?
Enter your e-mail address and read FX Empire content directly from your inbox.
 
We value your privacy. Your e-mail address will not be shared.
About: FX Empire Analyst - Christopher Lewis

Christopher is a part of the FXEmpire.com analysis team. He writes Forex and Commodities technical analyses on daily and weekly basis. Christopher writes his analyses in a professional and yet simple to understand manner. His analyses are available in both text and videos.

  View all of FX Empire Analyst - Christopher Lewis's Articles    
Share Your Thoughts: Post a Comment


Your email address will not be published.


include_once( __DIR__ . "/request_context.php");