CRUDE OIL BULLISH UNLESS WE TRADE $36.57 6/18/20
On a macro basis:On 4/29 we left a bullish reversal below that warned of renewed strength, possibly for days—we have seen $21.06 of this so far in the June and July contract, and this rolls into the August contract
On a short-term basis:The decent trade below $38.34 (+1.4 tics per/hour) put this below the equivalent formation in the (Q) to that of the (N) which projected this downward $3.50 (+) maximum.We have seen $3.67 of this so far before holding exhaustion with a $34.67 low and bouncing $4.69.This is ON HOLD and comes in at $40.09 (+1.4 tics per/hour starting at 9:00am).The decent trade above $37.22 projects this upward $2.55 (+).We have attained $2.14 of this so far.If we trade below here by 65 tics this will be negated and takes the bear call OFF HOLD.Decent trade above $38.73 (-1 tic per/hour starting at 9:00am) will project this upward $1.40 minimum, $5.00 (+) maximum.Today has a good likelihood of being a range expansion day.
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