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WTI Crude Oil and Natural Gas Forecast June 1, 2017

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The WTI Crude Oil market had a very negative session on Wednesday as we broke down below the bottom of the range from the Tuesday session, which was a hammer. That hammer of course should have been a very supportive looking move, but the fact that we broke down below and it looks likely that the market will continue to see negative pressure. At this point, I would expect to see the market tried to go down to the $47 level which should be a bit more supportive. A breakdown below there should send this market to the $45 level after that. I still believe that the $50 level above will continue to be resistance, so, I am a seller in general and believe that short-term rallies will be selling opportunities.for more analysis: http://www.dailyforex.com

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Oil Natural Gas Commodities Energy markets Futures
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