08/05/2014 – Crude Oil

Issued: 08/03/2014

September crude oil:

1. September crude oil recently broke out on the downside, indicating the likelihood of substantially lower prices noted in our previous July 30 report.

2. Any further test/attempt at $98.60/$70 (or higher) into early next week remains important and may prompt new short entry. No action is indicated at this point. Will update.

David Williams

Issued: 08/05/2014

September crude oil:

1. Our Sun. (Aug. 3) report indicated crude oil would likely test $98.60/$70 (or higher) into early this week and could prompt new short entry.

2. Both yesterday’s (Mon., Aug. 5) and today’s (Tuesday, Aug. 6) September crude oil session advanced to and tested the critical $98.60/$70 upside target and potential selling territory and has reversed off that level, completing the forecast. Will update.

David Williams