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Published on Sep 15, 2016
The
WTI Crude Oil market initially fell during the course of the session on
Thursday, forming a relatively neutral looking candle. In fact, I could
even go as far as to say that it is a bit of a hammer where we had seen
quite a bit of support, so a bounce could be coming. Quite frankly, I
believe that there is a massive amount of resistance above, and sooner
or later exhaustion will come back into this marketplace and I would be a
seller of it. On the other hand, we could break down below the bottom
of the range for the session on Thursday, and if we do I would be a
seller at that point as the market should then reach down towards the
$40 level below there.
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