Crude Oil Price Forecast September 15, 2017, Technical Analysis

WTI Crude Oil

The WTI Crude Oil market broke above the $50 level during the session on Thursday, but has pulled back to test that area as I record this. Simply put, if we close above the $50 level, it’s likely that the buyers will continue to jump into this market, however, if we close below the $49.75 level, I think that we selloff again.

Crude Oil Forecast Video 15.9.17

Brent

Brent markets found support at the $55 level, and then raced towards the $56 level. We have pulled back a little bit though, but I think that the $55 level should offer support below. It’s not until we break below that level that I would consider selling this market, and in the meantime, look at dips as potential buying opportunities.