top of page

Crude Oil Bullish, but Failure Below Breakout Line Should Bring in Pressure for Days 1/4/21

On a macro basis:On 4/29 we left a bullish reversal below that warned of renewed strength for days—we have seen $34.85 from that open at $14.98 in the (M).On 5/5 we left a medium-term bullish reversal below.We have seen $26.75 from $23.08. These are OFF HOLD.

On a short-term basis:We held exhaustion below with a $34.04 low and rallied $15.79. On 11/3 we left a short-term bullish reversal below that warned of strength for days.We have seen $11.57 of this so far.On 11/16 we left a short-term bullish reversal below.We have seen $7.77.The decent trade above $45.21 (-1 tic per/hour) warned of renewed strength—we have seen $4.62 of this. These are OFF HOLD.The decent break back above $46.75 brought in $3.08 of strength against the bearishness from the short-term bearish reversal left above on 12/21, and we negated the bearish reversal above with the decent break above $48.63.The decent trade above $48.36-48 (-.5 of a tic per/hour) brought in $1.35 of the strength warned about above before backing off the high.However, I would caution the break back below $49.43 warns of pressure against this.If we fail back below where the line comes in at $48.43 (-.5 of a tic per/hour starting at 9:00am), look for decent pressure to come in.Decent trade below $47.84 (+.3 of a tic per/hour starting at 9:00am) will project this downward $2.00 (+).I warned in the Post MarketSynopsis that today will likely see range expansion—we have already exceeded Thursday’s range on Globex

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.

Commodities trading involves a substantial degree of risk and may not be suitable for all investors. Michael Moor does not guarantee profits and is not responsible for any trading losses of subscribers. No representation is made, stated or implied, that any investor will achieve results, profits or losses, even remotely similar to hypothetical results. Past performance is by no means indicative of future results. Information provided in this newsletter is not to be deemed as an offer or solicitation with respect to the sale of purchase of any securities or commodities. Any copy, reprint, broadcast or distribution of this report of any kind is strictly prohibited without the express written consent of Michael Moor. Michael Moor may execute transactions in a proprietary trading account that may be consistent or inconsistent with the contents of the newsletter. The content, statements, and viewpoints expressed in this publication are those of Michael Moor solely in his individual capacity and are not attributable to any person or entity other than Michael Moor

bottom of page