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WTI: Inventory May Encourage Bulls For An Eruptive Up Move

By Satendra SinghCommoditiesDec 06, 2018 09:50AM ET
www.investing.com/analysis/wti-inventory-may-encourage-bulls-for-an-eruptive-upward-move-200365622
WTI: Inventory May Encourage Bulls For An Eruptive Up Move
By Satendra Singh   |  Dec 06, 2018 09:50AM ET
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Since my last analysis, on the movement of WTI Crude Oil futures, I find that WTI has been sustaining inside the ‘Bullish Consolidation,” which looks too supportive for the bulls. No doubt that WTI futures are maintaining at the lower edge of this zone before the announcement of Crude inventories, which may enhance the volatility in the energy sector. Still, I think the bulls will try to provide a good thrust to crude oil above $56 on growing volatility after the inventory announcement. Despite the growing quantum of volatility, I think that oil futures may turn toward higher trading zones ($56 - $66) with the announcement of more withdrawal this time.

Let’s have a look at the expected trading zones of WTI Crude Oil for December 6th - 7th, 2018 in the following charts.

1-Hour WTI Crude Oil
1-Hour WTI Crude Oil

4-Hour WTI Crude Oil
4-Hour WTI Crude Oil

Disclaimer: This analysis is only for educational purpose. Readers are requested to kindly consider their own view first, before taking any position.

WTI: Inventory May Encourage Bulls For An Eruptive Up Move
 

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WTI: Inventory May Encourage Bulls For An Eruptive Up Move

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Susant Wari
Susant Wari Dec 06, 2018 11:18PM ET
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we bought @3580 tergt 3896 ,3990
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Satyam Kumar
Satyam Kumar Dec 06, 2018 10:38PM ET
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how to read these charts???
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Disclaimer: This analysis is purely based on the technical observations. I do not have any position in Natural Gas. One can create position in Natural Gas at his/her own risk.
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