On analysis of the movement of WTI crude oil futures price, well according to the path which I concluded in my last analysis "WTI Crude Oil: Overwhelming The Technicals", I find the bullish sentiments seem still prevailing over the many minds, not only of Bulls but now the Bears also seem to be in fear.
Now, the fearful Bears are forced either to surrender or to run more upward at earlies, which may further result in an eruption of a "Short-Covering Rally" because the WTI Crude Oil futures price has stated peeping out over the long term resistance. Although, some profit booking may bring the price a little bit downward but consolidation at the current levels will soon witness a strong Short-Covering rally till the achieving new heights of the season amid growing volatility ahead. On analysis of the movementment of WTI Crude Oil futures price movement in different time zones, I conclude a propositional training zone for the Week of July 30th, 2017.
Have a Nice Trading Week.
