Market Technical View is a blog that mostly concerns the technical analysis of different financial instruments like indices, commodities, stocks, ETFs and currencies.

All the posts are structured in 3 main chapters that can be found in Content, in the upper right-hand corner of the blog.

Market perspective. The technical approach consists of chart patterns and important support/resistance zones. The purpose of this section is to give directions of the price on short and medium term (a few days up to a few months).

Trading setups. The analysis posted here will provide trading scenarios based on different technical tools.

Romanian Market. This is a section dedicated to Romanian stocks and indices.

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Thursday, December 15, 2011

Crude Oil (WTI) Technical Analysis 2011.12.15

Crude Oil evolves in a range market since November  17 and from my point of view anything can happen in the next days.

My second target, from december 6th (crude oil was trading at $101.00), on the short side was achieved yesterday ( ) and currently Crude Oil is trading within an indecision zone (between $94.00 and $95.50) due to previous highs and lows that defines the market.

CONCLUSION: as long as Crude Oil is not clearly establishing  the 94.00 - 95.50 zone as a support or resistance, there is nothing to do in this market. 

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