CRUDE IN BULLISH CONSOLIDATION 5/13/20
On a macro basis:The decent trade below $29.88 has brought in $23.38 of the pressure warned about. This has been ON HOLD since 4/29 and rolled into the (N) contract.
On a short-term basis:On 4/29 we left a short-term bullish reversal below that warned of renewed strength, possibly for days—we have seen $8.75 of this so far. On 5/5 we left a medium-term bullish reversal below that warns of higher trade for days/weeks.We have seen $2.95 of this so far.Decent trade back below $22.89 will negate the medium-term bullish reversal and warn of a run for the $17.30 (-) area again (although this would not be a projection, but a likelihood). NOTE: the Heat is bearish.
NOTE: this is just a small portion of the market calls I provide my clients twice daily in the Crude and Energy/Gold complex. 'Decent penetrations' are specific amounts provided to clients daily as well. If you are interested, please feel free to reach out.