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.
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