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Published on Oct 4, 2016
The
WTI Crude Oil market went back and forth during the course of the
session on Tuesday, as we continue to find quite a bit of momentum to
the upside. However, we are getting close to some significant resistance
and of course we have the inventory numbers coming out today as well.
With this being the case, we have quite a bit of trouble above here and
extending all the way to at least the $50 level just waiting to happen.
If we can break down below the bottom of the candle for the day on
Tuesday though, at that point in time I think we would continue to
consolidate in this area and perhaps drop from current levels to the $45
level or so.
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