The prices of crude oil have varied little today, sending the barrel of West Texas Intermediate to the region of 49.30 dollars before the report API.
WTI focuses on API, and on data from the U.S.
The prices of the black gold is having a losing streak of 6 sessions, negotiating at a great distance from the minimum of April yesterday near the area of 49.00, reinforced at the same time by the SMA 200 days (today 49.07 dollars).
Crude oil prices have experienced a new bearish pressure after testing the area of 54.00 to the beginning of the month, as they have already lost almost 9% from those levels.
The feeling around the crude oil remains heavy as traders continue to measure the effectiveness of the agreement of reduction of the OPEC production (initially intended to rebalance the oil market) in the face of growing oil production and stocks americans.
Later in the session, you will have the weekly report on stocks american by the AP(-0.84 previous.) before the report of the EIA on Wednesday and the counting of the oil platform of the united States by Baker Hughes on Friday.
Levels of WTI
At this moment, the barrel of WTI is losing 0.02% to 49.22 $ showing the next support to 49.07 dollars (SMA of 200 days), followed by 49.03 dollars (minimum of 24 of April) and then 48.45 $ (78.6% Fibo from march to April).
On the other hand, a break above 50.22 (maximum of 24 April) would have the objective of reaching 51.09 (SMA 200) and finally 51.29 (SMA of 55 days).