Published on 18 Jan 2017
The
WTI Crude Oil market broke down on Wednesday, clearing the bottom of
the shootings are from Tuesday. That’s a very negative sign, and I
believe that the market is going to continue to drift lower from here,
perhaps reaching towards the $50.50 level, which is supportive. I
believe that support extends all the way down to the $50 handle as well.
However, today is Crude Oil Inventories day, meaning that we will get
an idea as to what the demand is in the United States. Expected to be
-960,000 barrels, that number will have a massive effect on where we go
next. If that number is a lot higher, and I suspect it could be, this
could be what causes of the breakdown in this market finally. Rallies of
this point in time I think are going to be selling opportunities based
upon exhaustion.Live News Channels
Al Jazeera: DW News: France 24: Sky News: Euronews in english: Arirang TV:
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