-
Published on Nov 18, 2016
The
WTI Crude Oil market initially fell on Friday but turned around to show
signs of resiliency. With this being the case, I do worry about the
fact that we have had a couple of shooting stars recently, and I think
that sooner or later the sellers will return. Once they do, this market
will reach towards the $43 level, which is massively supportive. I still
believe that there is a huge oversupply of crude oil out there, so
ultimately I have no interest in buying. Every time we rally, you have
to think about perceived oversupply, and that selling should be the
first thing that comes to mind.
No comments:
Post a Comment