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, April 19, 2012

Crude Oil (WTI) Technical Analysis 2012.04.19

The Crude Oil (WTI) evolved in a bear channel in the last couple of months and on the short term (last couple of weeks) the price formed a bullish channel.

The most important resistances in the next days are the T3 trend line and the $105.30 horizontal level. In case of a break above the T3 line, a retest of it as a support could be seen before the trend resuming. The main target on the short term (less than a month) is at $108.00 level.  

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