WTI CrudeOil Continues to March Higher -
Enter your emailIt is obvious to me that we are starting to see this market get way ahead of itself.
This ultimately is a market that will continue to see a lot of upward pressure based upon a whole host of fundamental reasons. However, one has to note that we are more likely than not getting to the point where we are overdone.After all, momentum can only carry a market for so far and it is obvious to me that we are starting to see this market get way ahead of itself.
The fundamental reasons of course include the fact that OPEC is struggling to pump out as much oil as thought, and then of course you have to worry about the trouble with Russia and Ukraine, as well as a pipeline catching fire between Iraq and Turkey. This is a market that has faced a lot of noise as of late, so I would be perfectly comfortable with some type of pullback as it would make quite a bit of sense.
Either way, any type of supportive candlestick underneath offers an opportunity as far as I can see, and I would use it as an opportunity to get long again.
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