top of page

Crude Oil is Bullish 9/28/21

On a macro basis: On 4/29/20 we left a bullish reversal below—we have seen $64.20 from that open at $15.37 in the (N). We took out a major trendline at $55.15, which warned of significant strength in the weeks/months ahead. We have seen $24.42.The break above $57.45-8.02 projects this upward $56 minimum, $110 (+) maximum. We have attained $21.55. NOTE: the $76.90-98 area is a major area, and sustained trade above here will warn of another $70 to the upside over the next 18 months.

On a short-term basis: The decent trade above $65.80-85 warned of decent renewed strength, with a possibility of a run for the highs. We have seen $10.82 of this so far, taking out the highs. The decent trade above $69.45 (-.6 of a tic per/hour) projects this upward $1.85 minimum, $8.15 (+) maximum. We have attained $7.22 so far. The break above $69.50-81 and back above has brought in $6.86 of the short covering warned about. The decent trade above $71.48 warns of continued strength—we have seen $5.19 tics of this so far. I warned in the Post Market Synopsis that today has a good likelihood of seeing range expansion—we have already exceeded yesterday’s range on GLOBEX.

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

bottom of page