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.