CRUDE OIL for 4/16/20
The break back below $60.98 warned of heavy pressure.We have seen $42.77 of this so far. The break below $43.32-33 projects this downward $23 minimum, $34 (+) maximum.We have seen $25.11 of this so far. The decent trade below $23.87 projects this downward $4.15 (+). We have seen $4.67 of this so far before short covering back above $19.27, which gives this a near-term short covering bias. Decent trade above $24.28 (+.4 of a tic per/hour starting at 9:00am) should bring in decent renewed strength.Decent trade above $25.68 (-2 tics per/hour starting at 9:00am) will project this upward $7.00 minimum, $13.70 (+) maximum based on an ‘ok’ formed formation. NOTE: this is just a small portion of the market calls I provide my clients twice daily in the Crude and Energy/Gold complex. 'Decent penetrations' are specific amounts provided to clients daily as well. If you are interested, please feel free to reach out.