Crude Oil is Bullish 6/1/21
On a macro basis: On 4/29/20 we left a bullish reversal below—we have seen $53.05 from that open at $15.37 in the (M). On 5/5/20 we left a medium-term bullish reversal below. We have seen $45.34 from $23.08. We held exhaustion below with a $34.04 low and rallied $34.38. On 11/3/20 we left a short-term bullish reversal below that warned of strength for days. We have seen $29.97 of this so far. On 11/16/20 we left a short-term bullish reversal below. We have seen $26.10. The decent trade above $45.21 (-1 tic per/hour) warned of renewed strength—we have seen $23.12 of this. The decent break above $47.92 (+.3 of a tic per/hour) has brought in $20.53 of the decent renewed strength warned about above. The decent trade above $52.24 (+.5 of a tic per/hour) has brought in $16.29 of the strength warned about above. We took out a major trendline at $55.15, which warned of significant strength in the weeks/months ahead, with a good likelihood of a run for $65.60 (++). We have seen $13.25. The break above $57.45-8.02 projects this upward $56 minimum, $110 (+) maximum. We have attained $10.40. The trade above $59.50 brought in $8.46 of strength. These are all OFF HOLD.
On a short-term basis: The decent trade back above $64.73-98 (+.8 of a tic per/hour) warned of decent renewed strength toward $67.00(+). We have seen $2.98 so far, taking out $67.00. I warned on 5/21 we are in a lower timeframe bullish correction/trend—we have seen $4.89 so far. Monday, we left short-term bullish reversal below. We have seen $3.25. These are all OFF HOLD. We are called $1.78 higher as of 6:42am.
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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