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Published on 13 Apr 2017
The
WTI Crude Oil market rallied during the day on Thursday, but gave back
quite a bit of the gains. Because of this, I think the market is
starting to get a bit exhausted, and as a result of this I expect that
the market will reach towards the $52 level underneath. That level
should be supportive, it was previously important, and what is the 61.8%
Fibonacci retracement level as well. Because of this, I believe that
the market could find buyers in that area, and you may be best served by
stepping on the sidelines for the short term. A supportive daily candle
would be reason enough to go long again though.
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