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WTI Crude Oil Forecast: Testing Major Gap Above
The West Texas Intermediate Crude Oil market has initially tried to rally during the trading session on Thursday, breaking above the $34 level before pulling back just a bit. Having said that, I do think that we can continue to go higher but we are starting to press the idea of the major gap above that extends all the way to the $41 level. Ultimately, this is a market that I do think will start to struggle going higher from where we are, because quite frankly it has gotten a bit ahead of itself. The market has been essentially rebalancing, as we may have gotten a bit too negative in the past, but the rally has gotten ... (full story)