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WTI Crude Oil and Natural Gas Forecast June 29, 2017

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The WTI Crude Oil market rallied during the day on Wednesday, breaking above the top of the shooting star from the previous session. We are approaching the $45 level, an area that of course has a certain amount of psychological significance, and of course the 50-day exponential moving average. The fact that we close to the very top of the range for the day is a very bullish sign, but we are in a longer-term downtrend. With that in mind, I am a seller only. I’m looking for signs of exhaustion to start taking advantage of, as the oversupply continues to be an issue when it comes to oil. Once I get and exhaustive daily candle, I am short of this market and aiming for the $42.50 level again.for more analysis: http://www.dailyforex.com

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oil natural gas futures commodities
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