The price of crude oil was able to gain close to $1 a barrel yesterday, as tensions in the Middle East led to supply side fears among investors. The commodity traded as high as $92.91 a barrel before retreating back to the $92.50 level.
As markets get ready to close for the weekend today, oil traders will want to pay attention several potentially significant US indicators. Any positive American news may be taken as a sign that demand in the US will go up, which could help crude oil extend yesterday’s upward trend.
| Crude Oil (Nov 12) intraday: the downside prevails. |
Pivot: 92.90
Our Preference: SHORT positions below 92.9 with 91.1 & 90.3 as next targets. Alternative scenario: The upside breakout of 92.9 will open the way to 93.7 & 94.25. Comment: the RSI is capped by a declining trend line. |
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Disclaimer The analysis we provide is based on the average estimate of price movements in one day. Does not guarantee what we deliver is actually a proper and correct. Everything that happens in the decisions you make on your trading transaction is to be Your responsibilities. Visit Us www.deryworldscorp.web.id
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