Crude Oil market largely advanced during yesterday’s session, testing the $51 level. It seems as there is a little bit of resistance above, especially as the market gets closer to the level of $51.50.
The job data is coming out today. Thus, many market analysts feel that we could expect a certain amount of volatility. That volatility should represent a good trading opportunity in this market again. Several specialists believe that traders and investors may be getting a bit exhausted.
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Many suggested that they could surprised, in case the oil market broke above the $52 level, so given enough time. However, it is a wise trading strategy to follow a wait and see approach for the jobs number to come out first before making any real investments as it can have a massive influence on the USD.
