Crude Oil Prices September 25, 2012, Technical Analysis

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The light sweet crude markets fell during the session on Monday, but bounced when they approach the $90.00 level. This all-important level looks to be very supportive at this point time, and as such we feel that a bounce may be in the making. After all, the fall that we have seen recently has been predicated upon concerns of the Strategic Petroleum Reserve being released into the marketplace, as well as demand concerned.

However, the Federal Reserve is working against the value of the US dollar again via quantitative easing, and there is a lot of tension in the Middle East. Certainly, the real risk is to the upside in this market right now. Because of this, we prefer to buy ETFs that follow the price of oil. Also a potential tool for trading this market would be in the CFD markets, as you can size your position appropriately. There is a good chance to the futures market will continue to be far too volatile to be safe trading in the near-term.

 

Crude Oil Prices September 25, 2012, Technical Analysis

Crude Oil Prices September 25, 2012, Technical Analysis

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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.

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khaled

thanks

 

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