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WTI Crude Oil and Natural Gas Forecast May 9, 2017

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The WTI Crude Oil market had a volatile session on Monday, testing the $47 level above. This was an area where the uptrend line had previously crossed. Because of this, we had tested the previous support which should now be resistance, and now I believe that if we can break down below the bottom of the candle for the session on Monday, the market will go looking for the $45 level, and then perhaps even lower than that. Short-term exhaustive candle is near the $47 level could be an opportunity as well. I have no interest in buying this market, least not until we break above the $48 level, something that doesn’t look very likely. A breakdown below the $44 level should send this market much, much lower.for more analysis: http://www.dailyforex.com

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Oil Natural Gas Commodities Futures Trading Energy
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