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WTI Crude Oil and Natural Gas Forecast August 29, 2017

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The WTI Crude Oil market plunged during the session on Monday in reaction to the storms in Texas. With refineries closing down, there will be even less demand for the role petroleum product, and therefore it’s likely that we will continue to see even more bearish pressure on crude oil. Granted, there will come a time when the refineries open and therefore demand more crude. Until then, I suspect that we will have a significant amount of bearish pressure. Exhaustion should be looked at as another selling opportunity in a market that has longer-term issues. Ultimately, I think that the market will go looking towards the $45 level again. Rallies this point will continue to struggle near the $47.50 level. With this, I don’t have any interest in buying and the short-term, because quite frankly we have far too much in the way of noise.for more analysis: http://www.dailyforex.com

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oil natural gas futures commodities energies energy
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