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Published on Sep 21, 2016
The
WTI Crude Oil market rallied a bit during the course of the day on
Wednesday, as we continue to see quite a bit of strength. However, we
have recently seen bearish pressure and on top of that the highs keep
getting lower. With this being the case, I’m waiting to see whether or
not I get some type of exhaustive candle that I can start selling. The
$43 level below is massively supportive, and as a result I feel that if
we break down below there it would be time to not only sell, but hang
onto that position again. Exhaustion above would be a nice selling
opportunity as well, but you may have to look to the shorter-term charts
in order to take advantage of that.
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