11/20/2014 – Crude Oil

Issued: 11/20/2014

Dec. crude oil:

1. Our recent Dec. crude oil report indicated a test/attempt $75.75 (or higher) into Thurs., Nov. 20 (+1 day) in Dec. crude oil. This remains the outlook.

2. Therefore, a buy stop/new long position is indicated at $75.28. Initial long position exit should be taken at/near $75.50, with further exit at/near $75.70. Any remaining position can be held for the possibility of higher prices to be messaged in a subsequent update.

3. Once long, protective sell stop should be placed at $74.75. This stop will be moved higher as the market continues to confirm. Will update.

David Williams

Issued: 11/20/2014

Dec. crude oil:

1. Our recent Dec. crude oil report indicated a test/attempt $75.75 (or higher) into Thurs., Nov. 20 (+1 day). This remains the outlook.

2. Today’s (Thurs., Nov. 20) session triggered our buy stop/new long position at $75.28, noted in today’s earlier update.

3. Initial long position exit was taken at/near $75.50, with further exit to be taken at/near $75.70 as noted in the earlier update. Any remaining position can be held for the possibility of higher prices to be messaged in a subsequent update.

4. Our protective sell stop has been raised to $74.85. This stop will continue to be moved higher as the market continues to confirm.

David Williams

Issued: 11/20/2014

Dec. crude oil:

1. Today’s Dec. crude oil declined and triggered our recently adjusted $74.85 protective sell stop, resulting in an approximate loss of $200/contract.

2. Subsequently, Dec. crude advanced and completed the original $75.75 upside target noted in our Nov. 19 (and subsequent) reports.

3. The move to $75.75 should have been easier to trade than it was. The tricky behavior over the last 2 sessions indicate the possibility of yet higher prices. Will update as market confirms.

David Williams