Crude Oil is Bearish Within Overall Bullishness 2/9/22
On a macro basis: On 4/29/20 we left a bullish reversal below—we have seen $77.80 from that open at $15.37 in the (N). On 5/5/20 we left a medium-term bullish reversal below. We have seen $69.72 from $23.45. The break above $57.45-8.02 projects this upward $56 minimum, $110 (+) maximum. We have attained $35.15. The sustained trade above $76.90-98 warned of $70 to the upside over the next 18 months—this outlook would be negated with trade at $59.30.
On a short-term basis: The decent trade below $89.52 (+3 tics per/hour) projects this downward $5.40 (+); but if we break back above decently, look for decent renewed strength, and a likely run for the recent highs (+).This will come in at $90.11 (+3 tics per/hour starting at 7:00am). Yesterday also left a minor bearish reversal above. This again looks weak coming out of the gate.
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