WTI NYMEX CRUDE OIL FORECAST- Pull back or still some Gas left?Crude oil had a crazy rally last year and was one of the most promising commodities and is still a performer in January 2018
along with other commodities such as GOLD and Silver. However there seems to be some resistance up ahead for WTI crude oil
around the $67 dollar mark and by the looks of it, it can be a good time to short. Yes! i do believe Crude oil is headed upwards in the $75-$80 mark as most of the analyst on trading view as well as big banks which expect nymex to cross $80 in 2018. But all that put aside I still think we can see some pull back here and test some resistance levels it took out
recently in the last few weeks. Once was a resistance now becomes support, So it would be a good time to test those
support levels right now for further gains. I would personally want to short on those levels for short term gains.
Nymexcrude
Crude long idea- CLBounce-a-thon
You can wait for the 50.13 resistance to break to go long
or go long now and have a stop at 47.52.
However, there seems to be a better risk/reward if you go
long after 50.13.
Be patient with this kind of setup since it's a daily chart.
Also, I'm new so please trade accordingly.