Published on 18 Jun 2017
The
WTI Crude Oil market bounced during the session on Friday, reaching
towards the $45 level above. That is a level that has a certain amount
of psychological significance obviously, as it was supportive in the
past and of course it’s a large, round, psychologically significant
number. If we rally from here, the market will continue to find sellers
above, somewhere near the $47 level. An exhaustive candle is exactly
what I’m looking forward to start selling, as the market is most
certainly bearish in general. I don’t see any reason to try to return to
the bullish side of this trade, as it is so bearish in general. Any
bounce at this point must be look at as a nice selling opportunity.
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