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WTI upside limited near $ 51.00 — Forex Stock Trade

WTI upside limited near $ 51.00

Crude oil prices are spreading the movement to the north at the beginning of the week, bringing the West Texas Intermediate close to the area of $ 51.00, although they lose a bit of momentum after.

WTI steady after data

The prices of crude found initial support after the report of the Friday of the driller Baker Hughes, recording the second fall in the count of the oil platform, this time in 7 to 749 active oil rigs during the week ending September 15.

In addition, refiners americans are quickly returning to normal and recovering activity after the recent hurricanes Harvey and Irma. In addition, recent reports from the IEA and the EIA are still pointing to a better tone from the crude oil demand in the global markets, propping up the rally in the WTI.

Later in the week, the regular reporting on the supplies of crude oil from the U.S. by the API (Tuesday) and the EIA (Wednesday) must be in conjunction with the counting of the oil platform Friday by Baker Hughes.

In the front position, the long net speculative crude oil have fallen to minimum for two weeks in the week to September 12, according to the latest report from the CFTC.

Levels of WTI

At this moment, the barrel of WTI is losing 0.48% to $ 50.20 showing the immediate support at $ 49.58 (SMA 100 days) followed by $ 49.34 (23.6% Fibo of August to September) and then $ 48.99 (SMA of 10 days). On the other hand, a surplus of $ 50.84 (maximum of September 18) would aim to $ 52.00 (maximum of 25 of may) and then $ 53.76 (maximum of 12 September).

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