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WTI Crude Oil and Natural Gas Forecast June 11, 2018

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The WTI Crude Oil market lost 0.4% during the trading session on Friday but remain supportive just below by an uptrend line. At the end of the day, we had formed a hammer, which of course is interesting considering that we are pressing up against the major area. I think the $66 level is crucial, but if we can break above the top of the range for the Friday session, the market could very well find itself going to the $60 level next. Of course, the alternate scenario is that we break down below the lows of the week on Wednesday and continue to go towards $60. For what it’s worth, the weekly candle stick was a hammer, which of course is very bullish. With this in mind, it looks as if we could get a bit of a bounce. for more analysis: http://www.dailyforex.com
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