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Published on Sep 9, 2016
The
WTI Crude Oil market fell during the course of the session on Friday,
testing the $46 level. This being the case, looks as if we are certain
see significant selling pressure, but I think we need to break down
below the $45.50 level in order to feel a little bit more comfortable
shorting. At that point in time, I would expect that the market would
reach towards the $43 level. We could get a bounce from here, but quite
frankly I think there is still quite a bit of bearish pressure overall,
and longer-term I do think that oil falls. With this being the case, I’m
looking to see whether or not we break down so I can get involved in
start shorting this market yet again.
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