-
Published on Oct 6, 2016
The
WTI Crude Oil market initially fell during the day on Thursday, but
then watched itself above the $50 level. With this being the case, it
looks as if the market is going to try to break out longer-term, but we
have the jobs number coming out of America today. That of course can
have a massive effect on this market, and it would not be a real stretch
to imagine that this market is a bit overbought. With this, I suspect
that any type of pullbacks at this point in time should be buying
opportunities as this market continues to react positively to the OPEC
announcement that the members were going to cut production. With this
being the case, I think that it’s impossible to sell this market, and
any pullback at this point in time should be a buying opportunity.
No comments:
Post a Comment