Crude Oil is Bullish, but Approaching Macro Exhaustion Levels 3/1/22
On a macro basis: On 4/29/20 we left a bullish reversal below—we have seen $86.16 from that open at $15.37 in the (N). The break above $57.45-8.02 projects this upward $56 minimum, $110 (+) maximum. We have attained $43.51.
On a short-term basis: The trade above $93.05 (+3.5 tics per/hour) brought in $7.28 of the strength. The trade back above $93.75 has brought in $6.58 of strength. NOTE: we are now possibly in the last stretch of structure from $61.84 upward, and I would be wary of possible macro extension exhaustion above at 10337-484, 10702, and higher.
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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