CRUDE OIL for 3/27/20
The break back below $60.98 warned of heavy pressure, likely down toward $51.00 (-).We have seen $41.52 of this so far, taking out $51.00 on 2/2. The maintained gap lower on 3/6 also left a short-term bearish reversal above—we have seen $24.30 so far.The decent trade below $23.46 (+1 tic per/hour) warns of decent pressure.If we break back above decently, look for decent short covering to come in.This will come in at $23.87 (+1 tic per/hour starting at 9:00am). NOTE: The Heat has maintained a bullish reversal below, but still needs to take out 11380 for added credibility—if it fails 10389 decently, this will warn of a run for the recent lows (-) again. 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.