03/06/2016 – Crude Oil
April crude oil:
1. On both Wednesday and Thursday ((March 2/3) of last week it was noted that continued failure at $35.20 in April crude oil would indicate a new short entry for decline to lower prices.
2. However, on Friday, March 4 April crude oil reversed and broke out above $35.20 which prompted Friday’s March 4 forecast for new long entry in April crude for continued advance to $36.70 into Monday, March 7. For those already short this required a stop and reverse which required a relatively small loss.
3. Today, Monday, March 7, crude oil completed the forecast advance to $36.70, successfully completing the forecast/trade (today’s session high, $36.81, so far). This successfully completes the forecast/trade. Will message any further entry or indication in April crude.
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.