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Crude is Short Term Bearish 9/30/20


On a macro basis:On 4/29 we left a bullish reversal below that warned of renewed strength for days—we saw $21.14 of this, rolled into (X).On 5/5 we left a medium-term bullish reversal below that warned of higher trade for days/weeks.We have seen $15.49 of this so far, rolled into (X).These are ON HOLD. Decent trade below $36.87-86 will project this downward $5 minimum, $7.50 (+) maximum and could bring in a run to test below $24.40(-).


On a short-term basis:The decent trade below $43.63 brought in $6.95 of decent pressure. Trade below $42.83 (+.5 of a tic per/hour) has brought in $6.25 of pressure.These are ON HOLD. The decent trade below $40.24-27 (+1 a tic per/hour) brought in $1.83 of the renewed pressure warned about.A decent break below $38.82 should bring continued pressure toward $36.60 (-) and will take the other bear calls from above OFF HOLD.Decent trade above $40.24 (-.7 of a tic per/hour starting at 9:00am) will project this upward $1.95 minimum, $6.30 (+) maximum; but if we break above here decently and back below decently, look for decent profit taking 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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