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Published on 23 Feb 2017
The
WTI Crude Oil market rally during the day on Thursday, as the building
inventories was less than expected. However, the market looks like it is
still going to struggle with the $55 level. That resistance should
continue to be a problem in this market, and I believe that his son into
we break above the $55 level that you can start buying this market. If
we can go back and forth in the meantime, I think that short-term
traders will continue to take advantage. Longer-term, I still believe in
the bearish picture, because quite frankly the oversupply is getting
out of control. However, you have to follow with the market does, not
what it should do.
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