03/17/2015 – Crude Oil

April crude:

1. Crude oil remains in a much weaker position with price below the recent $43.70 downside target. Today’s session closed at $42.43.

2. Any weekly and especially monthly close below $43.70 (and especially $41.70) will indicate further decline and test/attempt at $36.50, then $33/$32 into April/May 2015.

3. Therefore, new short entry will be messaged if the market confirms as noted above. Will update.

David Williams