Currently: Cash Looking to: Buy @ $57.91
As of 7/12/19 close: $60.37
LAST WEEK: We suggested selling longs and getting short at $61.02 with stops above $62 and with a target of $38.
UPDATE: Crude oil is seeing some buying short-term by the Hurricane and Iranian issues. The last few days of trading action have changed the short-term outlook for crude. Crude oil now appears to be destined for a move up to at least $64.33 and possibly up to $65 - $66.60. It could even break out above $66.60 and skyrocket higher. But, thats a possibility and not a likelihood.
We would look get long on dips to $57.91. Honor stops on any close below $57 and look to take profits up at $64.33. We would only be re-shorting crude up at $66.30 with stops on a close above $67 and with a downside target of $51.