crude oil analysis
Oil prices find it difficult to stay at high levels, oil behaving strangely– we saw strange behavior – every time crude oil show strong move down it came back to higher numbers since may, but this month it’s not the case ! Crude oil reached all-time high since 2014 to almost 77$ and then went down sharp below 70$, meanwhile without any recover again
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| crude oil chart |
2 important things to pay attention :
Crude Oil Position Map
Number of drilling wells in the world
Crude Oil Position Map -position map analysis:
swap dealer side – when the spread will increase above 30 % + crude oil prices settled below 69-70$ (with high vol) = can lead to change direction in crude oil price- we got this moved as expected “
update position map shows us that the spread is on 15.7 %, but in the other hand the price of crude oil is found in the bands mentioned
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| crude oil position |
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| crude oil drilling |
Crude oil technical analysis
68 $+_ became support area we should pay attention also for 64.2 area break down those levels will send crude oil to cope with 60$ area again, while stay above could send crude oil to higher numbers, there is a negative divergence between the price and the oscillator Of the movement of the oil price from the $ 64 level that began in January this year, to the peak area at the beginning of the month, which was $ 77
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| crude oil chart |
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| crude oil analysis |
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