04/16/2014 – Crude Oil

Issued: 04/16/2014

May crude:

1. Aggressive longs from our April 9 long entry in May crude from $102.70 to $103.74 were instructed to raise their protective sell stop to $102.85 in anticipation of higher prices. The subsequent swing low made yesterday, Tuesday, April 15 was $102.91.

2. Today’s May crude advanced further, making a new swing high of $104.99. Much higher prices remain likely into late April, including at/near $106.20, then $107.10. During May 2014 crude oil is expected to test/attempt $112 or higher.

3. Our protective sell stop has been raised to $103.50. This stop will continue to be moved higher as the market continues to confirm.

David Williams

Issued: 04/16/2014

May crude:

1. Today’s May crude declined and hit our previously raised $103.50 protective sell stop. This completes the trade from $102.70 noted in previous updates. Will message any further entry or indication as the market confirms.

David Williams

Issued: 04/07/2014

May crude, latest update:

1. In previous live meetings it was noted that may crude would likely decline and test/attempt at $99.97 into April 8 (+/-1 day). Today’s (Monday, April 7) session completed the $99.97 downside target (session low, $99.92).

2. Today’s test and rebound off the $99.97 downside target continues to be an early indication for higher prices coming into the month of May. Will update with any further entry or indication.

David Williams

Issued: 04/08/2014

May crude, previous update:

1. In previous live meetings it was noted that may crude would likely decline and test/attempt at $99.97 into April 8 (+/-1 day). Today’s (Monday, April 7) session completed the $99.97 downside target (session low, $99.92).

2. Today’s test and rebound off the $99.97 downside target continues to be an early indication for higher prices coming into the month of May. Will update with any further entry or indication.

Latest update:

1. In previous live meetings it was noted that any daily or especially weekly close above $102.70 in May crude would be the earliest indication for continued advance to at/near $103.74 (or higher) into the week of April 21 (+/-11 week). This remains the case.

2. However, today’s May crude oil session closed below $102.70 (session close, $102.36). Therefore, continued hourly and daily close below $102.70 indicates a quick decline and test/attempt at $101.55/$50 (or lower) into Wed., April 10 (+/-1 day).

3. New short entry can be taken in tomorrow’s session upon hourly close below $102.70. Will update.

David Williams

Issued: 04/09/2014

May crude, previous update:

1. In previous live meetings it was noted that any daily or especially weekly close above $102.70 in May crude would be the earliest indication for continued advance to at/near $103.74 (or higher) into the week of April 21 (+/-11 week). This remains the case.

2. However, today’s May crude oil session closed below $102.70 (session close, $102.36). Therefore, continued hourly and daily close below $102.70 indicates a quick decline and test/attempt at $101.55/$50 (or lower) into Wed., April 10 (+/-1 day).

3. New short entry can be taken in tomorrow’s session upon hourly close below $102.70.

Latest update:

1. Today’s May crude session continues to trade above $102.70 which is the stronger position as noted in the previous update.

2. Continued hourly and especially a daily close today (Wed., April 9) above $102.70 indicates continued advance and test/attempt at the $103.74 upside target noted in the previous update.

3. The $103.74 upside target (or higher) could be attempted as early as Thursday April 10 (+1 day). Will update after today’s daily close.

David Williams

Issued: 04/09/2014

May crude, previous update:

1. Today’s May crude session continues to trade above $102.70 which is the stronger position as noted in the previous update.

2. Continued hourly and especially a daily close today (Wed., April 9) above $102.70 indicates continued advance and test/attempt at the $103.74 upside target noted in the previous update.

3. The $103.74 upside target (or higher) could be attempted as early as Thursday April 10 (+1 day). Will update after today’s daily close.

Latest update:

1. Today’s May crude has completed the majority of the forecast advance from $102.70 to at/near $103.74 expected into tomorrow, as noted in the previous update (today’s session high, $103.59, so far).

2. Self-directed longs should exit a portion of any long position based upon the above forecast at current prices (current price, approximately $103.55). A further portion should be exited at/near $103.74. Substantially higher prices remain possible, slightly longer-term. Will update.

David Williams

Issued: 04/09/2014

May crude, previous update:

1. Today’s May crude has completed the majority of the forecast advance from $102.70 to at/near $103.74 expected into tomorrow, as noted in the previous update (today’s session high, $103.59, so far).

2. Self-directed longs should exit a portion of any long position based upon the above forecast at current prices (current price, approximately $103.55). A further portion should be exited at/near $103.74. Substantially higher prices remain possible, slightly longer-term.

Latest update:

1. Today’s May crude completed the forecast advance/trade from $102.70 to at/near $103.74 noted in today’s previous updates (session high, $103.77).

2. Traders exited a portion or all of their long position at/near $103.74.

3. From this point forward, a daily close tomorrow, Thursday, April 10 below $103.74 is the weaker position, above $103.74 the stronger position.

4. Traders holding for the possibility of higher prices should use a protective sell stop at $102.85. This stop will be moved higher as the market continues to confirm.

4. Longer-term, weekly closes above $102.25 are the stronger position in May crude and the earliest indication for a multiweek advance to at/near $106.24. Keep this in mind. Will update.

David Williams