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Published on 20 Apr 2017
The
WTI Crude Oil market fell again during the session after initially
trying to rally on Thursday. By forming a shooting star like candle at
the 50-day exponential moving average, the market looks as if we could
continue the bearish pressure, and that of course could send this market
down to the psychologically important $50 level. A breakdown below
there would be rather negative. Alternately, if we can break above the
top of the range for the session on Thursday, then I believe the market
will test the $52 level. There are a lot of moving pieces when it comes
to the crude oil market currently, so this does not surprise me at all,
as we continue to see an increase of volatility.
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