Crude Oil for 1/22/20
The break back below $59.96-84 warned of heavier pressure, likely down toward $51.00 (-) in the months ahead. We have seen $2.12 of this so far. Decent trade below $58.03 (+.4 of a tic per/hour starting at 9:00am) should bring in continued pressure for $1.35 minimum, $8.20 (+) maximum; but if we break below here decently and back above decently, look for decent short covering to come in. NOTE: This is just a small portion of the analysis I provide my clients twice daily, and does not include the many other calls or specifications for what a 'decent penetration' is. Please feel free to reach out if you are interested in a free trial.