Neutral on WTI in the short to medium term

2014년 9월 12일

Technical Analysis: The latest down trend is reaching a key support level which coincides with the decline target from the slanted distribution top formation that triggered it in mid-July. Looking for the price to consolidate over the next month and for the price to start testing the down trend at the $94 level.

Geopolitical Analysis: With the U.S. & allies starting their war on ISIS, we expect conflicting reports to cause an increase in volatility as the price consolidates around its current level.