01/04/2016 – Crude Oil

February crude oil:

1. In Wednesdays (December 30) Williams edge live meeting it was noted that February crude oil (then trading at approximately $36.72 was expected to advance and test $38.00 into Monday, January 4.

2. Subsequently, crude oil declined slightly further before reversing and today (Monday, January 4) completed the $38.00 upside target (today’s session high, $38.39, so far). This is an important upside completion and successfully completes the forecast/trade.

3. As noted in the same meeting, a further advance and test/attempt at $38.50 remains possible late this week/early next with further confirmation to be noted in an upcoming report. Will update.

David Williams