Oil

[muscle fx]

� Brent crude oil squeezed down to its lowest level for 6 weeks under $ 110/barel, delete the entire rise since early 2013 due to the political deadlock in the U.S. that will lead to cuts in the U.S. budget.

� Since rising to its highest level in nine months $ 119.20/barel in early February, Brent crude oil accounting for about $ 9/barel already depressed in the last three weeks due to concerns over global oil demand following the re-emergence of concerns over the outlook for global economic recovery.

� The $ 85 billion worth of U.S. budget cuts will likely occur automatically after the U.S. government (Democrats) and the Congress (Republicans) have not reached an agreement, the country's economy at risk will reduce the world's biggest oil consumer.

[ihab]

the price of oil has broken the level of 91.75 opens the way for further downside correction
which now targeting level between 90.20_90.00 and therefore
the downward trend will likely rest of the day

[forexhunter]

If Oil can break the yesterday's high, Oil may goes up to the higher resistance level at 95.27. But if Oil can break the yesterday's low, Oil may also breaks 92.04 support level and fall more deeper to the lower support level at 90.76.

[asu_momod_india_jamput]

Oil still moving in bearish trend movement until today. As we can see on the chart Oil has also broken the support level at 92.04. So, I expect Oil will continue falling today and the next target of Oil is at around 90.76 as the next support level of Oil.

[advance]

In the h1 time frame the price break the channel of the support and resistance. the resistance is 93.30 and support is 92.15. at the time stoch is giving us long signal so it will again try to move the 92.15. we can long this pair if this level is break to the target resistance at 92.20

[forexgroove]

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

Pivot: 92.55
Our preference: SHORT positions below 92.55 with 91 & 90.25 in sight.
Alternative scenario: The upside penetration of 92.55 will call for a rebound towards 93.4 & 94.25.
Comment: technically, the RSI is below its neutrality area at 50.

[forexgroove]

Crude Oil (Apr 13) intraday: key ST resistance at 94.25

Pivot: 94.25
Our preference: SHORT positions below 94.25 with 91.9 & 91 in sight.
Alternative scenario: The upside penetration of 94.25 will call for 95.7 & 97.5.
Comment: as long as the resistance at 94.25 is not surpassed, the risk of the break below 91.9 remains high.

[advance]

in the h1 chart the price is moving in a support and resistance channel pattern. the upper side resistance is 93.40 and the lower support is 92.20. the price is now over bought so it will be break the support. we can short this pair with the target at 91.50

[muscle fx]

Apart from a surge yesterday on WTI Crude Oil above 93.26 level, the price is relatively fast without much oscillation, edging higher during the European trading Wednesday, looks from a retest resistensni 93.00. Currently negotiating with crude oil price of USD $ 92.87 / bbl.[COLOR="Silver"]

[SIZE=1]---------- Post added at 01:44 AM ---------- Previous post was at 01:42 AM ----------[

[forexgroove]

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

Pivot: 94.25
Our preference: SHORT positions below 94.25 with 91.9 & 91 in sight.
Alternative scenario: The upside penetration of 94.25 will call for 95.7 & 97.5.
Comment: as long as the resistance at 94.25 is not surpassed, the risk of the break below 91.9 remains high.