10/20/2014 – Crude Oil

Issued: 10/20/2014

Dec. crude oil:

1. Dec. crude is attempting to test $80/$79.80 (or lower) later today (Mon., Oct. 20, +1 day). A further decline and test/attempt at $79/$78.80 remains possible into mid week.

2. Aggressive can sell short Dec. crude oil for the above noted decline. Partial short position exit should be taken at/near $80.50.

3. Prior to completing the above-noted downside targets there should be no daily close above $82.00. Such a daily close would negate the above noted decline. Therefore, protective stops should be placed accordingly.

David Williams

Issued: 10/20/2014

Dec. crude oil:

1. Today’s (Mon., Oct. 20) Dec. crude oil made its first attempt at testing the $80/$79.80 downside target noted in today’s earlier report. A further decline and test/attempt at $79/$78.80 remains possible into mid week, also noted in the report.

2. Today’s session low was $80.78. The session closed at $81.85, which is below $82.00 noted in our previous update and keeps the position contact, for now.

3. A protective buy stop should be placed at $82.40. This stop will be moved lower as the market continues to confirm.

David Williams

Issued: 10/21/2014

Dec. crude oil:

1. Our Mon., Dec. 20 crude oil report indicated that aggressive traders could short Dec. crude oil for a possible test/attempt at $80/$79.80 (or lower) into Mon., Oct. 20, +1 day.

2. Today’s (Tues., Oct. 21) Dec. crude oil advanced and triggered our $82.40 protective buy stop, resulting in a loss on the position. Will message any further entry or indication in crude oil as the market confirms.

David Williams