crude oil

U.S Crude Oil Creating New Trading Frontier

The trend in the commodity remains strong and speculators may continue to believe additional value is possible.

New Winning Streak for Crude Oil

U.S Crude Oil continues to trade beneath 65.00 U.S Dollars a barrel this morning. But the commodity was able to produce modest gains yesterday and has continued its winning streak early this week.

WTI Crude Oil 1H Chart
WTI Crude Oil 1H Chart

Crude Oil Inventories data came from the States yesterday, and the result showed a big jump in supply. This is an indication U.S producers view the higher prices for the commodity optimistically and are putting more drills into the ground. 

New Highs for Long-Term Range

Crude Oil has experienced a solid upwards trend the past few months and has begun to create a new long-term range. The commodity has broken important resistance and speculators have taken notice.

US Crude Oil Weekly Chart
US Crude Oil Weekly Chart

The ability of U.S Crude Oil to reverse higher the past couple of days may be another signal the commodity may test better values. Support appears to be around 63.00 U.S Dollars and resistance seems to be the 67.00 Dollars juncture.

In the short term, we believe U.S Crude Oil may be positive. The mid-term and Long term we are unbiased.

Yaron Mazor is a senior analyst at SuperTraderTV.

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Yaron Mazor

Yaron has been involved with the capital markets since 1998. During the past 16 years, Yaron has been a day and swing stocks trader in the American market. Yaron has founded and made successful investments into businesses spanning exciting industries – from apparel to restaurants and bars, to high tech, medical technology and education. Ten years ago, Yaron sold all of his businesses and became a trader. Yaron started an education provider that taught thousands of people worldwide how to trade. Since then, he has traded every single day across every imaginable financial instrument Organic Trading System (OTS) is an unprecedented, new paradigm of trading technique, developed by Yaron Mazor. The trading system utilizes a combination of essential resources of market data (Fundamental, market participant sentiment and the basic concepts of trends), which are harmonically coordinated, in order to enable a relatively fast, simple and easy way to decide which side of the market to be trading from – the Buy side or the Sell side.