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Published on Sep 8, 2016
The
WTI True Oil market initially fell during the course of the session on
Thursday, but found quite a bit of support just below the $46 level out
the market shot higher. We are still below quite a bit of resistance
though, so at this point in time I feel that any rally is going to have
to deal with quite a bit of noise. Short-term pullbacks could be
short-term buying opportunities unless of course we get back below the
$46 level. Once we get below there, I would feel more than likely that
the market would continue to consolidate in general between that level
and the $43 level below. At this point in time, I believe that the one
thing you can count on is quite a bit of confusion as we come back from
the summer holiday.
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