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05/09/2016 – Crude Oil

  • May 9, 2016
  • Crude Oil

Issued: 05/05/2016

June crude oil:

1. Barring a daily close above $46.00, June crude oil is expected to test $44.60/$.50 into Monday, May 9 (+/-1 day).

2. Therefore, any further test at/near $45.90 remains selling territory for the above-noted decline. Once short, initial exit should be taken at/near $44.60.

3. Once short, an initial protective buy stop should be placed at $46.40. This stop will be moved lower as the market continues to confirm.

David Williams

Issued: 05/09/2016

June crude oil:

1. June crude oil tested the critical $45.90 selling territory noted in the previous update and reversed sharply to the downside as expected.

2. The market continued lower and today (Monday, May 9) completed the forecast $44.60/$.50 downside target.

3. Any remaining short position should be exited at current prices (current price, $43.84). This successfully completes the forecast/trade. Will message any further entry or indication in June crude oil.

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.

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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.
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