Crude Price Forecast 11.07.2018
The Crude Oil market has started to grind a bit to the upside, reaching towards the 5082 level above. That of course is a large, round, psychologically significant figure, and an area that has caused a bit of resistance in the past. I think if we can break above that level 5173, it’s likely that we will continue to go towards the 5423 level, and of course beyond their if things start to heat up. If the US dollar starts to fall, that will also add to bullish pressure. I believe that currently we are simply trying to build enough momentum to break above the 5423 level, so short-term pullbacks should be buying opportunities.