CRUDE OIL for 3/9/20
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 decent trade below $50.53-51 projects this downward $1.50 minimum, $4.30 (+) maximum. We have seen $23.17. 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. If we break back above by $1.50, look for significant strength to come in for days/weeks, with a possible run back up toward $65.65 (+) likely. 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.