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WTI Crude Oil and Natural Gas Forecast June 2, 2017

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The WTI Crude Oil market initially tried to rally during the day on Thursday, but found enough resistance near the $49.25 level to turn things around and form a very negative looking shooting star like candle. If we can break down below the current area, I believe that we will go looking for the $47 level underneath, and then possibly the $45 level after that. I believe that the market will continue to be one that you can sell as long as we stay below the $51 level. In the meantime, we have a jobs number coming out today which of course will cause volatility in all markets, but I believe that the WTI grade of crude oil continues to be very negative overall as OPEC has very little control on what happens with pricing. The market will continue to be volatile, but with an overall negative bias in my estimation.for more analysis: http://www.dailyforex.com

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Oil Natural Gas Energy Futures Commodities
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