The WTI crude oil market initially fell during the day on Friday, but turned to bounce and form a slightly positive candle. However, there is some negativity in this market and it seems very likely that we will continue to go down. Because of this, I’m waiting to see signs of exhaustion that I can take advantage and start selling again. I think the previous level of $ 43 will be a bit of a roof, and it is only a matter of time before vendors are involved between here and there. I think the market will try to break below the level of $ 40, but it may take a couple of tries, as it is a large, round, psychologically important numbers.
The natural gas markets rallied during the day on Friday, but turned right back around to form a shooting star. By doing so, looks like the market is going to continue to struggle With the volatility but continue to be a buyers market Should on pullbacks That finds. That being the case With, I feel That it is only a matter time before I can go long. I would wait for a supportive candle after this potential pullback, or a break above the top of the shooting star would signify Past That We Should continue to go higher as the market will reach $ 3.00 towards the level.
That is of course a very large number, so I feel Having Said That That the market will Have to fight in order to break above there, and I believe That It could take quite a bit of effort to finally make the breakout. Because of This, it will probably chop around quite a bit and offer Several different Attempts and Opportunities to trade. At this point, I still believe That we are going to reach $ 3 towards at the very Least ‘.