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.
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