Wednesday, 15 November 2017
WTI Light Crude Oil: 15 November 2017, Wednesday, 11.22pm Singapore Time
WTI Light Crude Oil:
15 November 2017, Wednesday, 11.22pm Singapore Time
(Click on Chart Above to Expand)
For those who are in short term swing/position trading, WTI light crude oil will be doing short term healthy correction within a long term uptrend. The expected trajectory is illustrated as above. As the previous ascent in crude oil had been too steep, the reversion to mean is expected to take place. $51.00-$52.00 ichimoku cloud supports are expected to be backtested before long term uptrend can resume. Crude oil related stocks worldwide will use the above crude oil technicals as a guide in their movements. Short term healthy retracement with long term energy bull expected to carry on in 2018.