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

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By FX Empire Analyst - Christopher Lewis
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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

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