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Rafferty Is in the News!

In case you missed it, Rafferty Commodities Group contributed commentary to RigZone on our technical analysis of the oil and gas futures market. RigZone is the leading online resource for news, data and events for the oil and gas industry. CEO Jerry Rafferty provided commentary on Nov. 28, referring back to our comments on Nov. 7.  From Nov. 7 to Nov. 28, the market dropped over $10.  We stated, “Our weekly chart for WTI crude oil shows the market breaking our major support levels earlier in the month. The close below 6400 was significant and had caused us to turn bearish.” In the November 7th RigZone article, we said, “It would not surprise us to see the WTI market retest the 5450 level which was the original breakout area.” There was a bounce from the 5450 area up to the 5800 area, and prices have since tumbled to the 5000 area where we have listed major support. We like buying against the 5000 area for January WTI and selling as the market approaches our resistance at 5461. To see our article in RigZone, visit https://lnkd.in/d4H_SV9

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