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WTI Crude Oil and Natural Gas Forecast July 13, 2017

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The WTI Crude Oil market had a very volatile session during Wednesday, as currency markets were moved drastically by Janet Yellen’s comments for the Congressional members. However, more importantly we saw a very bearish inventory number, so I think that we are going to continue to see selling on the rallies, and that is the thesis going forward. By forming the shooting star, it suggests that the buyers are probably doing nothing more than short covering, and that of course is no way to build a rally. I believe oil continues go lower longer-term, and because of that I have no interest in buying. I look at rallies as opportunities to short this market yet again.for more analysis: http://www.dailyforex.com

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oil natural gas energies futures forex commodities
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