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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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