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Crude in Bullish Correction/Trend 12/2/20


On a macro basis:On 4/29 we left a bullish reversal below that warned of renewed strength for days—we have seen $31.28 from that open at $14.98 in the (M).On 5/5 we left a medium-term bullish reversal below.We have seen $23.18 from $23.08.These are currently ON HOLD.


On a short-term basis:We held exhaustion below with a $34.04 low and rallied $12.22. On 11/3 we left a short-term bullish reversal below that warned of strength for days.We have seen $8.00 of this so far.On 11/16 we left a short-term bullish reversal below.We have seen $4.20. This may be in a final stretch of the move up from $34.04, with possible exhaustion areas above at $45.96-6.07, $48.18-21, and higher.We basically held the lower of these Wednesday with a $46.20 high and rolled over $2.28. The trade below $45.18 (-1.3 tics per/hour) only brought in $1.26 of pressure before short covering off the low and taking out $45.40 (-1 tic per/hour starting at 10:00am) whicn now projects this upward $1.60 (+). If we fail back below here decently, look for decent pressure to come in.


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.

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