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Published on 21 Dec 2016
The
WTI Crude Oil markets fell on Wednesday, as we continue to see quite a
bit of volatility in the oil market. Quite frankly, this is a market
that I think is going to consolidate between now and the end of the
year, with the $50 level on the bottom being the floor of the market,
while the $54.50 level above being resistance. You will more than likely
have to do a lot of range trading between now and then, simply selling
once we get a little too high, and buying once we get a little bit too
low. If we did break out of this consolidation area, about the only
thing you can do is follow the market once we do get one of those moves.
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