Crude Oil is Bearish Within Overall Bullishness, Unless we Take out Formation Above 1/25/22
On a macro basis: On 4/29/20 we left a bullish reversal below—we have seen $72.54 from that open at $15.37 in the (N). On 5/5/20 we left a medium-term bullish reversal below. We have seen $64.46 from $23.45. The break above $57.45-8.02 projects this upward $56 minimum, $110 (+) maximum. We have attained $29.89. 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. All the above we rolled into (H) from previous contracts.
On a short-term basis: The decent trade below $84.01-3.79 (+3 tics per/hour) projects this downward $2.00 minimum, $4.00 (+) maximum; but if we break back above decently, look for decent short covering (likely toward the recent highs (+)).This will come in at $34.40-63 (+3 tics per/hour starting at 7:00am).
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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