Daily Forecast - 02 November 2015

WTI Crude December contract

WTI

WTI Crude may be able to push a little higher at the start of the week but gains look limited. 4675/85 is key resistance. A break above 4710 however should target 4760/70. Watch for a high for the day here. However if we see another short squeeze look for the next target & strong resistance band at 4825/35 for an excellent selling opportunity. Stop above 4880.

Minor support at 4600/4595 but below here targets 4545/35. This could hold the downside but longs need stops below 4500 to target 4485/80, perhaps as far as 4460/55. Try longs with stops below 4425.

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