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Crude Oil in a Bullish Correction/Trend Against Move Down From Highs 6/28/22

On a macro basis: On 4/29/20 we left a bullish reversal below—we have seen $115.13 from that open at $15.37 in the (N). On 5/5/20 we left a medium-term bullish reversal below. We have seen $107.05 from $23.45. We held exhaustion below with a $34.04 low and rallied $96.46. The trade above $45.21 warned of renewed strength—we have seen $85.29 of this. The trade above $52.24 has brought in $78.26 of the strength warned about above. We took out a major trendline at $55.15, which warned of significant strength. We have seen $75.35.The break above $57.45-8.02 projects this upward $56 minimum, $101 (+) maximum. We have attained $72.48. The sustained trade above $76.90-98 warned of $70 to the upside over the next 18 months. The trade above $80.03 brought in $50.47.The trade above $84.58-82 brought in $45.68. The trade above $89.36 brought in $41.14.The trade above $93.05 brought in $37.45. All of the above are ON HOLD.

On a shorter-term basis: The trade below $119.15 has brought in $17.62 of pressure. The trade below $115.90 projected this downward $3.20min, $8.85 (+) max. We have attained $14.37.These are ON HOLD. We held exhaustion at $103.46-2.21 with a $101.53 low and bounced $10.19 into a bullish correction/trend. The trade above $104.99 (-12 tics per/hour) warned of short covering—we have rallied up to $111.72. Areas of possible corrective exhaustion come in at $111.20-1.64, $113.47, $115.33, and $116.74-40. We are currently holding the lower of these with a $111.72 high. Decent trade below $108.40 (+7 tics per/hour starting at 8:00am) will warn of decent pressure.

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

Commodities trading involves a substantial degree of risk and may not be suitable for all investors. Michael Moor does not guarantee profits and is not responsible for any trading losses of subscribers. No representation is made, stated or implied, that any investor will achieve results, profits or losses, even remotely similar to hypothetical results. Past performance is by no means indicative of future results. Information provided in this newsletter is not to be deemed as an offer or solicitation with respect to the sale of purchase of any securities or commodities. Any copy, reprint, broadcast or distribution of this report of any kind is strictly prohibited without the express written consent of Michael Moor. Michael Moor may execute transactions in a proprietary trading account that may be consistent or inconsistent with the contents of the newsletter. The content, statements, and viewpoints expressed in this publication are those of Michael Moor solely in his individual capacity and are not attributable to any person or entity other than Michael Moor

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