1. Today’s June crude continued on the recent decline from (approx.) $101.20 and completed the forecast $99.26 downside target (and lower), noted in the April 25 update (today’s session low, $98.74, so far).
2. A daily close today above $98.92 in June crude is the stronger position, below $98.92, the weaker position. Will update.
1. While not an outright forecast, today’s continued decline in June crude indicates a likely test/attempt at $99.26 (or lower) into next week (the week of April 28), which itself may indicate an important weekly bottom. Will update as market continues to confirm.