Oil Technical Analysis Monday April 2, 2012
By FXEmpire.com - Commodities predictions; Technical analysis for Oil using graphs & indicators Monday - April 02, 2012.
Lets see the Oil forecast April 02, 2012.
The Light Sweet Crude markets fell slightly on Friday as the weakness continued in the market. The rumors of a release of crude from the Strategic Reserves of Britain, the US, and France continue to make their rounds, and this will continue to put pressure on prices.
However, the last time this was attempted, the fall in price lasted just 7 trading sessions. Because of this, we look at any move like this to simply be a chance to buy this market from lower levels. The $102 to $95 area in this market is extremely congested, and we find it difficult to think that this market will slice through all of the noise easily. Currently, we are waiting to see supportive candles in this area in which to buy.
[Originally Posted Here]
Oil Analysis | 04/01/2012
