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Published on 22 Dec 2016
The
WTI Crude Oil market went back and forth on Thursday, as we filled the
gap from earlier in the week. By bouncing from here, it looks as if the
market is going to try to grind its way to the upside, but I don’t
expect anything in the way of a large move right now. Today is the last
trading day before Christmas, and that of course will weigh upon any
type of volume in the market. I think that short-term buyers may come in
and pick up a few ticks here and there, but beyond that it’s probably
asking a lot for the market to do much. I have no interest in selling, I
think there is quite a bit of support just below. Longer term we may
break down, but right now I don’t think we’re going to see that happen.
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