WTI CrudeOil Looking for a Pullback - commodities oilprice energybills
Enter your emailCrude oil will more than likely have to cool off a bit in order to build up momentum to the upside.
That being said, the market has rallied significantly during the course of the trading session, only to turn around and fall towards the $90 level. That being said, we did up forming a bit of a shooting star, and it does suggest that maybe we get a little bit of a pullback.However, the market has seen a hammer from the previous session, so be interesting to see if we just definitely hang about the $90 level, or if we are going to have a little bit deeper pullback.
If we do turn around a break above the top of the candlestick for the trading session on Thursday, then it could open up a move towards the highs. This will be especially true if the US dollar starts to spike going forward, which obviously has a small influence on this market.
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