Christopher Lewis
Add to Bookmarks

Light Sweet Crude

Know where WTI Crude Oil is headed? Take advantage now with 

Trading Derivatives carries a high level of risk to your capital and you should only trade with money you can afford to lose. Trading Derivatives may not be suitable for all investors, so please ensure that you fully understand the risks involved, and seek independent advice if necessary. A Product Disclosure Statement (PDS) can be obtained either from this website or on request from our offices and should be considered before entering into a transaction with us. Raw Spread accounts offer spreads from 0.0 pips with a commission charge of USD $3.50 per 100k traded. Standard account offer spreads from 1 pips with no additional commission charges. Spreads on CFD indices start at 0.4 points. The information on this site is not directed at residents in any country or jurisdiction where such distribution or use would be contrary to local law or regulation.

The CL had a strong day on Friday, and managed to break the barrier set up by the last few days. The $90 level is more than likely the next massive barrier, and unfortunately we are just below that – so it is hard to buy at this point. We simply need to break above and close over the $90 to get bullish of this market for any real length of time. The highs are still getting lower, and until we break $90 – that will continue to be true. If it does happen though – this would constitute a resumption of the uptrend we saw earlier this year.


The Brent markets absolutely skyrocketed during the Friday session as traders continue to expect some kind of magic out of Europe over the weekend. The rally in all risky assets has been impressive, and if you happen to be long already, it could be time to take profits. The $110 level has given way, but the $115 and $120 levels are both above and waiting to push prices back down. At this point in time, it looks like we are going to get some long-term answers soon, but we still feel that selling is the way to go if we get some kind of bearish bar to launch shorts. Until we make a fresh new high, about the $116 level – we aren’t ready to fight the trend.

Don't miss a thing!
Discover what's moving the markets. Sign up for a daily update delivered to your inbox

Trade With A Regulated Broker