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Friday 16 December 2016

WTI Crude Oil and Natural Gas Forecast December 16, 2016: DailyForex

Published on 15 Dec 2016
The WTI Crude Oil market fell initially on Thursday but found enough support at the $50 level to turn around and form a hammer. This is a hammer that I think signifies that we will probably try to reach the highs again, if we can break above the top of the range for the Thursday session. It doesn’t necessarily mean that the markets going to explode to the upside, but ultimately, I think the next couple of weeks could be quiet. That of course would make quite a bit of sense as we are starting to reach towards the holidays, and that tends to be quiet time it here anyway. It would not surprise me at all if we continue to consolidate until we make some type of significant decision.

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