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Call to Action - WTI Brent for Friday, November 2

When market shifts occur, Rafferty Commodities Group delivers actionable intelligence in the form of our proprietary technical analysis, charts, and interpretation straight to our client’s desktops and mobile devices. This morning, we issued a real-time Call to Action advising our clients of the continued movements for WTI Crude Oil. We wrote, “While there was a good run with many trading opportunities that we’ve enjoyed from the long side since mid-2017, the market’s violation over the last couple of days of key support levels has changed our view of the market. For now, we see a couple of support levels at 6200 and 6000. If this recent violation is for real, the decline should carry to the more major support around 5500. The Brent market, while trading sharply lower from its recent highs, is approaching support in the 7100-7000 area. As long as the support holds, there’s a chance for a bounce. We look to sell against the recently violated support levels that are now resistance. (See our Weekly WTI Chart.) For a more comprehensive analysis of the market, visit Rafferty Commodities Group at www.ENRG.com.”  If you haven't already, take a minute and sign up for our 30-day, no-obligation trial of Wake Up to ENRG. You'll receive our proprietary technical analysis, charts, and interpretation across all the major energy markets every market day, as well as our Calls to Action to help you maximize your investments and minimize risk. 

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