Crude Oil Prices September 28, 2012, Technical Analysis

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The light sweet crude markets had a very bullish session on Thursday as the $90 level appears to be holding quite strongly as support. With this in mind, we think that a bounce to the $95 level is probably in the cards, and we would be willing to go long of this market.

If you have the ability to trade CFDs, we would suggest using them as you can limit the amount of exposure in this highly volatile market. If you don’t, there are ETFs that you can play in order to take advantage of the price swings, and of course there is the options market. We do like buying crude oil futures, but the fact is that with all of this volatility there is a real high probability of having your stops it in this type of environment. Nonetheless, we are bullish overall.

 

Crude Oil Prices September 28, 2012, Technical Analysis

Crude Oil Prices September 28, 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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