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WTI Crude Oil and Natural Gas Forecast June 13, 2017

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The WTI Crude Oil market initially tried to rally on Monday, but turned around just below the 47 handle to form a shooting star. This is a very bearish sign, showing signs of negativity yet again. The $45 level underneath continues to be supportive, but I do think that eventually will break down below there, and looking for the $43 level underneath. Ultimately, it looks as if the short-term rallies should offer selling opportunities for those who are quick. The $47 level above is massively resistive, and it’s not until we break above there that I would consider buying this market, and even then I would be a bit cautious. Nonetheless, I believe that the WTI Crude Oil market should continue to sell off as the oversupply glut should continue into the future.for more analysis: http://www.dailyforex.com

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oil natural gas futures commodities energy
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