04/04/2020 – Crude Oil
Crude oil:
1. During the week of March 16 our crude oil forecast indicated that any rallies could be shorted for a further decline to slight new lows below $19.46 expected to occur into the week of March 30. That week would also mark an important weekly bottom, according to the forecast.
2. Subsequently, the market rallied into the week of March 23 then reversed lower and as forecast, made a slight new low below $19.46 at $19.27. This created an important weekly bottom as that same week (the week of March 30) rallied powerfully, closing the week up at $29.00, confirming the forecast week of March 30 weekly bottom. This successfully completes the forecast/trade.
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.