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Published on Nov 27, 2016
The
WTI Crude Oil markets fell during the day on Friday, as we had a
significant bearish tone to the market. This is a market that has been
struggling back and forth as the market participants trying to suss out
whether or not the oversupply is going to be an issue. I personally
believe that it will, and that every time this market rallies, you have
to believe that the sellers are looking to get involved. The negative
candle informed on Friday suggests that we are trying to close the gap
that formed on Monday, and as a result I believe it’s only a matter of
time before you have to start selling on signs of exhaustion off of
short-term charts. I have no interest in buying this market.
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