Crude Oil for 1/17/20
The decent trade below $61.41 (+.9 of a tic per/hour) projects this downward $2.95 (+). We have seen $3.99 of this so far. If we break back above decently, look for decent short covering to come in and a resumption of bull calls. This will come in at $62.75 (+.9 of a tic per/hour starting at 9:00am). Decent trade below $57.81 (+.4 of a tic per/hour starting at 9:00am) should bring in continued pressure; but if we break below here decently and back above decently, look for decent short covering to come in. NOTE: this is a small portion of the analysis I provide my clients twice daily, if you are interested in a free trial, please feel free to reach out.