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Published on 10 Apr 2017
The
WTI Crude Oil market continues to show significant strength, so having
said that it looks like the buyers are still very much in control in
this market. However, we are getting a bit overbought at this point so
I’m going to wait for some type of pullback to start buying. The $52
level could be an excellent buying opportunity, and I think at this
point were going to reach towards the $55 level. Short-term pullbacks
can be buying opportunities as well if you are nimble enough, but right
now I would prefer to see a significant pullback just so that we can
build up momentum yet again. It’s not to be easy, but I believe that we
are going to go higher over the longer term.
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