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Published on 16 Feb 2017
The
WTI Crude Oil market fell initially during the day on Thursday, but
found enough bullish pressure to turn around and show signs of strength.
Because of this, I think we’re going to test the $54 level again but
getting above there might be a bit of a struggle. After all, we continue
to see resistance all the way to the $55 level, so this market should
continue to be choppy above current levels, so I’m waiting to see
whether we get some type of exhaustive candle that I can start selling.
Have no interest in buying, at least not into we break above the $55
level, and on a daily close. Until then, I think the range bound
conditions should continue.
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