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WTI Crude Oil and Natural Gas Forecast September 12, 2017

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The WTI Crude Oil market initially fell on Monday, but turned around to form a hammer as word got out that disruptions weren’t going to be as big of an issue with demand, and that of course helped the market. By doing so, it looks as if we could go looking for the $49 level next, and then eventually $50. I think that the $50 level will be rather resistive though, so I’m not looking for a breakout immediately. A break below the bottom of the range for the day would be very negative, perhaps sending this market down to $46. Don’t get me wrong, I’m still bearish of this market longer term, but I realize a little bit of a relief rally is probably in order.for more analysis: http://www.dailyforex.com

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