CRUDE OIL HEADED HIGHER for 4/30/20
The decent trade below $26.06 (+1 tic per/hour) warned of continued pressure for $7.70 (+).We have seen $19.56 of this so far.This is ON HOLD.The maintained gap higher yesterday left a short-term bullish reversal below that warns of renewed strength, possibly for days.Taking out $16.18 decently has given this added credibility as well.Decent trade below $13.69 will negate the bullish reversal and renew bearishness. NOTE: The Unleaded broke above a fairly significant formation yesterday as well--but if it fails today, the complex could roll over.
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.