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CRUDE OIL for 3/12/20


The break back below $60.98 warned of heavy pressure, likely down toward $51.00 (-). We have seen $33.64 of this so far, taking out $51.00 on 2/2. The $1.50 break below $43.32-33 now projects this downward $23 minimum, $34 (+) maximum. We have seen $15.98 of this so far. I would watch key areas below in RBOB (Unleaded Gas) at 9499-78 and 7738-704 as possible exhaustion as the RBOB is leading the downside, and these holding could be a harbinger for the complex...

NOTE: this is just a small portion of the market calls I provide my clients twice daily in the Crude and Energy/Gold complex. If you are interested, please feel free to reach out.