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Published on 14 Mar 2017
The
WTI Crude Oil market broke down during the day on Tuesday, slicing
through the hammer that formed on Monday. This is a very negative sign,
and with the Crude Oil Inventories announcement coming out today it’s
likely that there could be significant bearish news yet again. We are
oversold though, so quite frankly I would prefer to see a bounce that I
could sell into. And exhaustive candle above would be a nice
opportunity, and the $50 level above should be massive resistance.
Ultimately, I think that the market should then go down to the $45
handle, which is naturally supportive and has been structurally
supportive as well. I have no interest whatsoever in buying this market
going forward.
Exxon Mobil Corp D Bats (XOM) - Advanced Real-Time Chart Widget
LSE: BP - Advanced Real-Time Chart Widget
LSE: Royal Dutch Shell "B"plc RDSB - Advanced Real-Time Chart WidgetExxon Mobil Corp D Bats (XOM) - Advanced Real-Time Chart Widget
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