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Thursday, 9 March 2017

WTI Crude Oil and Natural Gas Forecast March 10, 2017: DailyForex

Published on 9 Mar 2017
The oil markets continue to struggle during the Thursday session, as the short-term rally that opened the day turned around and we broke well below the $50 level. This is a psychological win for the sellers, and thus I believe we are going to continue going lower. Anybody who’s been listening to me knows that I’ve been waiting for the breakdown, and this is it. I believe the market will then reach towards the $45 level below, but we will get a bounce from time to time. Those bounces are selling opportunities, and I think that will be the case for some time. Currently, I have no interest in buying oil, and quite frankly I don’t understand why it stayed as high as it did for so long.

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