Issued: 05/20/2014
July crude oil:
1. Any further test of and hourly or especially daily close below $103.11 in July crude will prompt new short entry for a tradable multi-day decline to at/near $102.35, then $102.10 (or lower). Will update as the market continues to confirm.
David Williams
Issued: 05/23/2014
July crude oil:
1. Our previous Tuesday, May 20 update indicated the possibility of a failure at $103.11 in July crude oil for a decline to $102.35 and lower.
2. On Wed., May 21 crude oil gapped higher and spent the remainder of the day in an advance above $103.11, negating new short entry. Will update.
David Williams