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Published on Sep 5, 2016
The
WTI Crude Oil market rallied during the course of the day on Monday,
breaking well above the $46 level. However, you have to keep in mind
that the Americans and Canadians both were away at the Labor Day
holiday, so having said that there is a serious lack of liquidity.
Because of this, I believe that it is only a matter of time before the
sellers return, mainly because we could not hang onto the gains. With
this, I believe that we remain somewhat consolidative between the $46
level on the top and the $43 level on the bottom. Because of this, I
believe that short-term trading will continue to be the way to go going
forward, with a bit of a negative bias on my part.
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