WTI Crude Oil The WTI Crude Oil market fell slightly during the day on Monday, as we reached towards the $40 level. I believe we will break down below
WTI Crude Oil
The WTI Crude Oil market fell slightly during the day on Monday, as we reached towards the $40 level. I believe we will break down below there and reach towards the $47 level after land, and perhaps even the $45 level next. I still believe that short-term rallies are selling opportunities, as the oil markets are far oversupplied.
Crude Oil Video 21.3.17
Brent
Brent markets fell as well, testing the $51 level. Given enough time, I believe that the market then reaches to the $50 level and breaks below there to fall rather significantly. I believe that short-term rallies continue to be selling opportunities, and that this market will go much lower.
Chris is a proprietary trader with more than 20 years of experience across various markets, including currencies, indices and commodities. As a senior analyst at FXEmpire since the website’s early days, he offers readers advanced market perspectives to navigate today’s financial landscape with confidence.
