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Published on Oct 23, 2016
The
WTI Crude Oil market initially fell on Friday, but found enough support
at the $50 region to turn things back around and form a hammer. It
certainly looks as if the buyers are returning again, and of course the
$50 level has quite a bit of a psychological significance to it. We have
been in an uptrend for a while now, so it looks as if we are going to
continue to see bullish pressure take over. I think that every time we
pullback you have to be thinking about buying, at least until we break
down below the $49 level which doesn’t look very likely at this point in
time. If we did, then I think the market could start to continue to go
to the downside but at this point in doesn’t look like it’s anywhere
near that.
Forex Analysis, Forex, Technical Analysis, Trading, Forex News, Stocks, Stocks Analysis, indices, business, Nasdaq, S&P
Forex Analysis, Forex, Technical Analysis, Trading, Forex News, Stocks, Stocks Analysis, indices, business, Nasdaq, S&P
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