07/07/2014 – Crude Oil
Aug. crude oil:
1. In yesterday’s (Monday, July 7) Williams edge live meeting it was noted that a daily close above $103.40/$45 in Aug. crude oil would indicate a quick advance to at/near $103.92 into Wed. July 9 (+/-1 day).
2. Yesterday’s (Monday, July 7) session closed at $103.39, just one tick below the $103.40 level. Therefore, it is likely the $103.93 upside target remains valid into tomorrow, Wed., July 9 (+/-1 day).
3. How the market handles the $103.93 level remains important with regard to the longer-term outlook of crude oil. Will update.
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.