WTI Crude 05 Sep 2012
As per my previous analysis dated 03rd September we are currently trading very close to 94.89 support level.
News and Numbers due to be published this week including ECB and BOE Interest rate decision and Non Farm Payroll on Friday could impact USD ( QE3 or not ??? ) and therefore Commodities in general. If the initial support of 94.89 fail and the price action create Daily Close below that level, next support could be located at 92.50 followed by 90.88.
Alternatively if the price action break out above 98.20 any further upside could initially be capped by 100.
News and Numbers due to be published this week including ECB and BOE Interest rate decision and Non Farm Payroll on Friday could impact USD ( QE3 or not ??? ) and therefore Commodities in general. If the initial support of 94.89 fail and the price action create Daily Close below that level, next support could be located at 92.50 followed by 90.88.
Alternatively if the price action break out above 98.20 any further upside could initially be capped by 100.
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