So much bull positions from the speculators, investors and fund have been put into WTI that now I suspect that they will whitstand the price for a moment. the money put into WTI is at level saw last summer year, they are bet into strong driving season, instead to wait and put presure to solve the glut problems.
Technicaly, WTI has a bullish trend and passed thru the strong resistance set at 38.3 from last bottom Sep, 15. I expect that WTI will miss energy to pass thru the next resistance of 42.4 set from last bottom March, 15. But, it could trade between the range until that contract for the driving season will end, mean one month and half, maybe less if the demand is not per the forecast. If it's the case, the DMI will trend between the two green doted lines with decreasing trend. After that, the correction will be furious because they will be out of market and let crude to fall again, maybe 32 or less.
Let see
Technicaly, WTI has a bullish trend and passed thru the strong resistance set at 38.3 from last bottom Sep, 15. I expect that WTI will miss energy to pass thru the next resistance of 42.4 set from last bottom March, 15. But, it could trade between the range until that contract for the driving season will end, mean one month and half, maybe less if the demand is not per the forecast. If it's the case, the DMI will trend between the two green doted lines with decreasing trend. After that, the correction will be furious because they will be out of market and let crude to fall again, maybe 32 or less.
Let see