Oil

oil tried hard to break 93.60 yesterday but couldn't do it, trading range in oil looks to be around 91.30 /93.60 on both sides you can take chance with very tight stop loss and targets will be very good.currently oil is moving around 92.84 if USD dominate market today than commodity market will drop.

Prices traded during the day were influenced by news coming from the representative of TransCanada company Mr.James Millar who was telling that the pipeline will resume sending oil to the U.S. probably today after a two-day of delay. The cost of December futures of WTI fell to $88.57 dollars per barrel on the NYMEX today....Best of luck .

After the breakdown of 88 dollars price fell significantly more evident now that sellers continue to press, the peaks are reduced and more and more pressed to support 85 dollars ... but judging by the current situation, I think it is very possible that the breakdown of the price will go down and itself further to at least 84 dollars.,thank you.

http://storage2.static.itmages.ru/i/...d41d8cd98f.gif

But in the last few then oil started to walk ... to form such a swing himself down $ 2, then $ 2 on top, but still can be seen below the support price is 91.80 and is fixed ... and at the upper limit if a bit but also there is some increase highs, so a recommend playing in improving ... I think may break above 94 dollars ..

Oil formed a clear horizontal support level 92.00 figure, below which the price is not allowed, like at 92.00 appeared a serious buyer, if you analyze the daily chart, we can say that now there is a long-term renewal of the main trend and the northern end of the South-wave correction, MASD showed a buy signal, target 93.90.

Light Sweet Crude Oil futures are delivered every year in January, February, March, April, May, June, July, August, September, October, November and December (all months).

Crude Oil (May 13) intraday: under pressure.

Pivot: 93.90
Our preference: SHORT positions below 93.9 with targets @ 92.4 & 91.6.
Alternative scenario: The upside penetration of 93.9 will call for a rebound towards 94.45 & 94.9.
Comment: as long as the resistance at 93.9 is not surpassed, the risk of the break below 92.4 remains high.

in the H4 time frame the price is moving along the supporting trend line. it is also having a good support at the 92.15. if this level is break we can short this to the 90.95 and the stop loss is t 93.50 . the moving average is also providing the resistance at 92.90

Oil has touched the support level at 92.00 and now I think , If Oil can break that support level, Oil may falls to the next support level at 90.73. But if fail to break that support level, Oil will go to the resistance level at around 93.60.

Crude Oil (May 13) intraday: the downside prevails.

Pivot: 93.50
Our preference: SHORT positions below 93.5 with 91.6 & 90.75 as next targets.
Alternative scenario: The upside penetration of 93.5 will call for 93.9 & 94.45.
Comment: as long as 93.5 is resistance, look for choppy price action with a bearish bias.