WTI Crude Oil and Natural Gas Forecast January 24, 2017: DailyForex

DailyForex

Published on 23 Jan 2017

The WTI Crude Oil market fell initially on Monday, but found enough support at the previous gap to turn around and form a slightly positive looking candle. This is a market that should continue to try to go higher but I also recognize that the $55 level above will continue to be massively resistive, so it’s not until we break above there that I’m comfortable buying with any significant size and time involved. I believe that more than likely the sellers will return as we get closer to that level, so exhaustive and exhaustive candle could be nice short-term selling opportunities. We continue to struggle with oversupply and demand issues, so because of this I believe that the volatility will not only stay, but it could possibly increase.