Currently: Cash Looking to: Short @ $43.78
As of 9/18/20 close: $41.32
LAST WEEK: We suggested selling / shorting crude on bounces to $37.55 with stops honored on a daily close above $37.76 and with a target of $30.90.
UPDATE: Crude oil futures have suddenly and out-of-nowhere come alive and have managed to rally through projected resistance triggering stop-outs (at a profit) for those of you trading based on our calls.
Crude oils subsequent rise through $39.63 and then $41.10 is opening the door to at least a test of the recent highs at $43.78 and potentially more.
We would be willing to short crude oil up at $43.78 with stops honored on a close above that level and with a downside target of $40.