Issued: 06/15/2015
July crude oil:
1. Last Thursday’s (June 11) crude oil report indicated that Wednesday’s (June 10) test and failure at $61.60 in July crude oil would produce a tradable decline and test/attempt at $59.60 (or lower) into Mon., June 15 (+/-1 day). This trade was also messaged in our Fri., June 12 Williams edge live meeting, indicating new short entry.
2. Today’s (Mon., June 15) June crude oil session declined further and completed the $59.60 (or lower) downside target. Traders taking advantage of this indication exited partial positions at/near $59.60 and should continue to hold for the possibility of lower prices to be messaged in a subsequent update.
3. A protective buy stop should be placed at $60.30. This stop will continue to be moved lower as the market continues to confirm.
David Williams
Issued: 06/15/2015
July crude oil:
1. Today’s July crude oil will likely close the session above $58.90 which is the stronger position, short term. Therefore, any remaining short position should be exited at current prices (current price, $59.57). This completes the trade. Will message any further entry or indication in July crude oil.
David Williams
Issued: 06/11/2015
July crude oil:
1. Wednesday’s (June 10) test and failure at $61.60 in July crude oil indicates a tradable decline and test/attempt at $59.60 (or lower) into Mon., June 15 (+/-1 day).
2. Will message any new entry based upon the above in tomorrow’s (Fri., June 12) session as the market further confirms.
David Williams