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Published on 13 Jun 2017
The
WTI Crude Oil markets continue to be very volatile, and I believe it’s
only a matter of time before we finally break down. The fact that we
rallied and then gave back all of the gains again during the session on
Tuesday, just as we did on Monday, tells me that there is a large amount
of trading volume out there waiting to get involved to the downside. If
we can break down below the $45 level, that would be a very negative
sign, and then we could send down to the $43 level after that. I believe
that a break above the $47 level would be very bullish, but it doesn’t
seem very likely currently. I believe that the market is one that will
continue to offer selling opportunities every time it rallies, and of
course there is a glut of the commodity to begin with.
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