Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
Settings
Settings
Dynamic quotes 
OFFON

4-Traders Homepage  >  Commodities  >  WTI       

WTI
Mes dernières consult.
Most popular
SummaryQuotesChartsNewsAnalysis 
Analysis summary4-Traders Strategies

Renewed interest in the black gold

share with twitter share with LinkedIn share with facebook
share via e-mail
04/02/2013 | 03:51pm

The U.S. WTI crude barrel is gradually approaching its highest level since September 2012 around 100 dollars, investors are betting especially on an acceleration of the economic activity in the United States, world’s largest consumer of crude oil. Oil stands apart, indeed, over the last few days from other assets and particularly from the euro which remains near to a four-month low against the dollar due to concerns about the Cyprus’ bailout and a difficult Italian’s auction. However, this increase of the dollar against the euro is significantly unfavorable for the black gold. Paradoxically, an inverse correlation is taking shape.

Oil prices remain well oriented at the end of this quarter, despite a rise in the weekly Crude Oil inventory sharper than expected. Investors are more taking in account the recent series of good macroeconomic indicators, in the image of the sharp rise in Core Durable Goods Orders, and favorable for the future domestic consumption of oil.

The barrel of crude oil seems to be regaining its momentum, which could be confirmed if the U.S. and Chinese growth would accelerate in the next months.

Technically, the situation is now slightly bullish in daily data above the USD 92.6, threshold coinciding with the 20-day moving average. Crude oil prices could quickly reach the USD 100 symbolic level then the USD 110 by extension.

We can play the continuation of this bullish trend thanks to the Crude Oil Future (Code: CLXXXX) on the Nymex futures market.


Rodolphe Steffan
© Zonebourse.com 2013
share with twitter share with LinkedIn share with facebook
share via e-mail

Disclaimer: The information, charts, data, views, or comments provided by SURPERFORMANCE SAS are intended for investors who have the necessary knowledge and experience to understand and appreciate the information contained within. These items are disseminated for personal reference only. They do not constitute an offer or solicitation to buy or sell financial products or services, nor an investment advice.
The use of the information disseminated takes place under the investor's sole responsibility, without recourse against SURPERFORMANCE SAS. SURPERFORMANCE SAS will not be liable, whether in contract, in tort, under any warranty, for errors, omissions, improper investments, or adverse evolution of markets.

Chart WTI
Duration : Period : Day
WTI Technical Analysis Chart | 4-Traders
Duration : Period : Week
WTI Technical Analysis Chart | 4-Traders