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Rafferty's WTI Crude Oil Commentary and Chart for Tuesday, December 11

In our Wake Up to ENRG™ client email this morning, Rafferty Commodities Group shared our proprietary technical analysis and commentary on January WTI Crude Oil.  We stated, “The daily chart for January WTI shows the market has been in a down trend since October. We had targeted the 4915-5000 area, and the market did bounce off this area after testing it several times. We have drawn the horizontal support line at the 4957 area and the downward sloping bear trend line. The market has entered into a period of consolidation trading within these lines of support and resistance. As these lines converge, it is a mathematical certainty that prices will breakout to the upside or breakdown through the support level. While we have enjoyed the trading opportunities against these parameters recently, we will trade the market in whichever direction it breaks beyond these parameters.” Rafferty Commodities Group invites to experience for yourself why the nation’s leading businesses, institutions, utilities and investment firms look to Wake Up to ENRG to power their hedging and trading strategies across all the energy markets. While you're here, sign up today for our 30-day, no-cost, no-obligation trial.  It’s time to see what you’ve been missing.

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