Category Archives: C ) WTI Crude Light Futures

Learn the Markets “Hidden” Code to Profit .

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WTI UPDATE –

Just a Quick Update on WTI which was my last analysis made before the Easter holidays – And pretty Much SPOT once again – You can Find the Exact Post Here

Maybe I should Start charging  ?  …erm Now there,s a thought .

WTI crude oil update & overview 20th April

Crude Light Oil futures are now trading the June ‘10 contract after May expired at the close yesterday .

As of Last Thursdays Overview from the 14th April below here,s what was outline .

Freshley squeezed view

Even after two days of heavy selling off Oil remains at elevated levels.
Bulls will look to halt the sell off  toward the top of the March trading range (106.50)  and break its short term Resistance.

Price pretty much acted like I have outlined and now breaking its short term Resistance .

So were do we head from here ?

Price continues to build value above the 100.00 level and bears have a long way to go before being in control of the market . With the June ‘10 contract currently trading around 111.30 .

Freshley Squeeze View

A failure to break the previous low at 106.50 marks key short term support . There is little in the way of resistance and a retest of made the 114.07 now favour bulls .

Also to reiterate Longer term -remain bullish  the Oil market and expect a test of the 120.00 handle in the coming months- .

Squeeze-EM !

WTI crude Oil – Update 14th April

Following on from  last weeks overview – After a fast breakout of the previous range on stronger volumes from the 108.00 handle to highs of 113.45
the Market has snapped back over the first two days of this week
with the May contract now trading around 106.50.

Monday Saw the IMF downgrading their estimates for world economic growth with A further sell-off  Tuesday  attributed to a Goldman Sachs piece suggesting both Brent and WTI Crude prices would fall in the coming months .

Technical

After a fast breakout of the previous range on stronger volumes
the market could not consolidate at any prices further up and we have seen a sharp rejection back into the range .

Medium term support now lies at 102.00-70 before the major support at 97.00-70 .

Freshley squeezed view

Even after two days of heavy selling off Oil remains at elevated levels.
Bulls will look to halt the sell off  toward the top of the March trading range (106.50)  and break its short term Resistance.

Longer term -remain bullish  the Oil market and expect a test of the 120.00 handle in the coming months-

However the important psychological 100.00 handle will have there bear come out to play . Any Failure in and around this 106.50 leaves Price vulnerable to an air pocket toward > Medium term support at 102.00-70 on the cards before a Final test of the major support at 97.00-70.

WTI Crude Sunday overview – 2nd April 2011

WTI Crude Light Futures remain bullish settling higher in terms of building value at higher prices above the £100 Area.

The market has shown itself to remain firm above the 100.00-102.00 support zone.

The recent consolidation above the 100.00 mark suggests that the market has started to accept these higher values for the year and now looks to break out higher Technically .

Bulls will now try to capitalize on recent gains having run price into the high prints of 108.25 on the front month contract last Friday .


Freshly Squeezed  View

Strategy – Patiently waiting for pull-backs for buying opportunities .