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. All of the above are ON HOLD.
On a shorter-term basis: The trade below $119.15 brought in $33.78 of pressure. The trade below $104.48 (+1 tic per/hour) projects this downward $9.30 minimum, $17.40 (+) maximum. We attained $19.11. The trade below $97.18 projects this downward $4.70 minimum, $8.30 (+) maximum. We attained $11.81. All of the above are OFF HOLD. The trade above $92.09 (-1.7 tics per/hour) only brought in $5.57 of the $11 minimum we were looking for above before rolling over into a new bear structure. We held exhaustion at $97.66 and rolled over $10.54. I warned trade below $95.76-40 will warn of pressure—we came off $8.28.The decent trade below $89.34 (-1.7 tics per/hour) should now bring in decent pressure, and a likely run for $85.50 (-), likely for days. A maintained gap lower will leave a moderate bearish reversal above.
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.
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