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WTI Crude Oil and Natural Gas Forecast May 30, 2017

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Description

The WTI Crude Oil market had a volatile session, bouncing around the $50 handle. However, by the end of the day we ended up just below that level, but also just above the 200-day exponential moving average. This tells me that the market is going to continue to be volatile, and that an explosive moved could be coming. I believe that if we break above the top of the candle, that is a buying opportunity, perhaps sending this market towards the $51.75 level. A breakdown below the bottom of the candle for the session on Monday should send this market down to the $48.25 level next. Either way, I think you can say that we will probably see a violent move coming next. WTI Crude Oil markets continue to struggle in general, as although we have production cuts, we also have massive amounts of crude oil flowing out of the United States and Canada.for more analysis: http://www.dailyforex.com

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Oil Natural Gas Crude Oil Futures Commodities Nat Gas
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