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Published on Oct 24, 2016
The
WTI Crude Oil market went back and forth during the course of the day
on Monday, as we have found more than enough support below the $50 level
to keep this market somewhat afloat. If we break above the top of the
candle I think we will continue to grind higher, perhaps reaching
towards the $52 level. Pullbacks continue to offer buying opportunities
as long as we stay above the $49 level below, and as long as we can stay
above there I think that the buyers will be encouraged as the market
continues to try to show strength. However, we have seen quite a bit of
volatility lately, see you have to keep in mind that the market
continues to show just how uncertainty there is.
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