Currently: Cash Looking to: Short @ $65.80
As of 4/14/19 at 10:56pm EST: $63.65
LAST WEEK: We suggested selling longs at $63.96 and shorting up at $65.80 with stops on a close above $66.50 and with a target of $51.
UPDATE: Crude oil futures are pulling back modestly after breaking through the lower edge of projected resistance at $63.96 last week. Crude should still have some more upside in store after a modest pause. We would, however, be out of longs now that the lower edge of resistance has been reached. We are now in wait mode until the upper edge of that resistance is tested. At that level which is still $65.80 we would be shorting. We will honor stops on shorts on a close above $66.50 and will still use $51 as the downside target.