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WTI Crude Oil and Natural Gas Forecast April 17, 2017

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Friday was of course very thin as far as trading volume is concerned, and at the end of the day we essentially ended up where we started. Because of this, looks as if the crude oil market may pull back a little bit, and I believe that the West Texas Intermediate grade will go looking for support at the $52 level next. If we can get a bounce from there, I believe that the buyers will continue to jump into the market. Alternately, if we break down below there we could go as low as the $50 level. The oil markets certainly looked a bit overbought towards the end of the week, and I think that’s what we are starting to see, a market that needs to pull back to build up enough momentum to continue the move.for more analysis: http://www.dailyforex.com

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Oil Natural Gas Commodities Forex WTI Crude Futures
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