1. In Friday’s July 17 Williams edge live meeting it was noted that September crude, then trading at approximately $50.70 was expected to decline further and test/attempt $49.50 (or lower). Traders already short were encouraged to continue to stay short for $49.50, while aggressive new short entry was indicated, as well.
2. Today (Wednesday, July 22) September crude completed the $49.50 downside target (and lower) completing the forecast/trade. Today’s session low has been $49.06, so far. This is an important downside completion. Will message any further entry or indication in September crude.