In today's regular Oil Trading Alert, we wrote that if crude oil rallies to $66.78, we'll automatically view a small (50% of the regular trading position) speculative short position as justified. Finance.yahoo.com reports today's intraday high at $66.89, which means that our "go short" level was triggered.

Consequently, we would like to confirm that we currently view small short positions in crude oil (with a stop-loss order at $70.22 and the initial downside target at $60.12) as justified from the risk/reward perspective.

Thank you.

Nadia Simmons
Forex & Oil Trading Strategist
Przemyslaw Radomski, CFA
Founder, Editor-in-chief, Gold & Silver Fund Manager