09/30/2014 – Crude Oil
Issued: 09/29/2014
Nov. crude oil:
1. As noted in today’s (Mon., Sept. 29) Williams edge live meeting, any further advance, test and daily close below $94.80 in Nov. crude oil will prompt new short entry for a tradable multi-day decline and test/attempt at $93.50/$40 (or lower). Today’s session high was $94.64.
2. Therefore, the market is at/near a critical juncture on the upside. Will update as the market confirms.
David Williams
Issued: 09/30/2014
Nov. crude oil:
1. In Monday’s (Sept.29) Williams edge live meeting (and subsequent report) it was noted that any further advance to $94.80 in in Nov. crude oil followed by an hourly or especially daily close below $94.80 would prompt new short entry for a tradable decline to $93.50/$40 (or lower).
2. Today’s Nov. crude oil session completed the $94.80 upside target/selling territory and closed the hour below that level, prompting new short entry for more aggressive traders.
3. Nov. crude declined quickly and completed the $93.50/$.40 downside target, completing the trade.
4. Any remaining short position should be held for the possibility of lower prices and a trend following final exit. Will message any further entry or indication as the market confirms.
David Williams
CFTC RULE 4.41 – HYPOTHETICAL OR SIMULATED PERFORMANCE RESULTS HAVE CERTAIN LIMITATIONS. UNLIKE AN ACTUAL PERFORMANCE RECORD, SIMULATED RESULTS DO NOT REPRESENT ACTUAL TRADING. ALSO, SINCE THE TRADES HAVE NOT BEEN EXECUTED, THE RESULTS MAY HAVE UNDER-OR-OVER COMPENSATED FOR THE IMPACT, IF ANY, OF CERTAIN MARKET FACTORS, SUCH AS LACK OF LIQUIDITY. SIMULATED TRADING PROGRAMS IN GENERAL ARE ALSO SUBJECT TO THE FACT THAT THEY ARE DESIGNED WITH THE BENEFIT OF HINDSIGHT. NO REPRESENTATION IS BEING MADE THAT ANY ACCOUNT WILL OR IS LIKELY TO ACHIEVE PROFIT OR LOSSES SIMILAR TO THOSE SHOWN.