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Published on Aug 28, 2016
The
WTI Crude Oil market initially tried to rally on Friday, but turn right
back around to form a massive shooting star. Because of this I think we
are going to fall backwards and try to test the $46 level for support.
Once we do, I think that the buyers will more than likely come back in.
However, we break back down below the $46 level, we could continue to
fall from there. Obviously, if we break the top of the shooting star
that’s a very bullish sign in changes everything. In the meantime, the
one thing I think you can count on is quite a bit of choppiness in this
general vicinity.
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