Nov. crude oil:
1. Today’s Nov. crude oil made a session low of $86.83 before reversing and closing at $87.71.
2. Further decline and test of today’s $86.83 low is expected into Friday, Oct. 10 (+/-1 day). Will message any new short entry based upon this outlook as the market confirms.
Dec. crude oil:
1. In yesterday’s (Wed., Oct. 8) Dec. crude oil report it was noted that Dec. crude was expected to decline and test $86.83 into Friday, Oct. 10 (+/- 1 day). Yesterday’s session closed at $87.71.
2. Today’s (Thurs. Oct. 9th) Dec. crude oil session declined sharply and completed the forecast $86.83 downside target and lower (session low, $86.59, so far). Lower prices remain likely, including the completion of our longer-term $84/$82 downside target expected into Nov. 2014. Will update.