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WTI Crude Oil and Natural Gas Forecast August 15, 2017

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The WTI Crude Oil market initially tried to rally during the session on Monday, but fell rather precipitously, breaking through the bottom of a hammer from the Friday session. That being the case, the market looks as if it is going to go down to the $47 level. A breakdown below there should send this market to the $45.50 level as well. This market seems to be rolling over as we have seen more than once, and I think that the downward channel may be continuing yet again. If we broke above the $50 level, that would of course be a very bullish sign and could turn everything around. Ultimately, I believe that the market should continue to be bearish and therefore I look at short-term rallies that show signs of exhaustion as a nice opportunity to start shorting again.for more analysis: http://www.dailyforex.com

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oil natural gas commodities energy futures
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