WTI Crude – Exhaustion Signs Are Evident As Shale Output Surges
Satendra Singh | Feb 14, 2018 11:28AM ET
Since the announcement of Crude Oil inventories, I find Crude Oil WTI Futures still seem to be facing stiff resistance at the current level of $59.80 due to the fact that the demand-supply equation looks on the negative side as deep water projects are being embraced again, a challenge to the surge in onshore U.S. shale output amid the growing supply. Analysis of the movement of WTI Crude Oil futures on February 14th, 2018 at 11:15:00, finds that signs of exhaustion are still persisting. Having a look at the current position of WTI Crude Oil futures since the crude oil inventory confirms the beginning of a downward trend during the week.
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