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Published on Sep 22, 2016
The
WTI Crude Oil market broke higher during the course of the session on
Thursday, as we continue to see bullish pressure enter this market. With
this being the case, I think that we are getting a little bit “long in
the tooth” when it comes to the move higher. With this, I think that
it’s only a matter of time before the sellers get involved though, so
having said that I think that it’s only matter of time before we get an
exhaustive candle that we can take advantage of. With this, the market
could very well fall the way down to the $43 level. I believe that there
are massive amounts of resistance all the way to at least to the $49
level. I believe that sooner or later we will get the candle that I can
search selling and therefore I will as the highs continue to get lower
and lower.
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