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Published on 27 Apr 2017
The
WTI Crude Oil market broke down significantly during the Thursday
session, but we bounced significantly as well, and the daily candle
ended up forming a hammer. There are a couple of shooting stars just
above though, so I think that any rally at this point in time should be a
selling opportunity off short-term charts. If we break down below the
bottom of a hammer, that’s a very negative sign and should send this
market down to the lows again at the $47.20 level. I don’t have any
interest in buying, I believe that selling rallies will be the most
viable trading strategy on short-term charts going forward. I believe
that the market will be choppy and volatile, as there are a lot of
moving pieces when it comes to this market.
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