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Crude Oil is Bullish Unless we Fail Decently Below Gap 12/10/21

On a macro basis: On 4/29/20 we left a bullish reversal below—we have seen $70.04 from that open at $15.37 in the (N). On 5/5/20 we left a medium-term bullish reversal below. We have seen $61.96 from $23.45. The break above $57.45-8.02 projects this upward $56 minimum, $110 (+) maximum. We have attained $27.39. The trade above $59.50 brought in $25.91 of strength. 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, although I warned at the same time, we were likely in the final stretch of this bull structure and may now be in a bearish correction against this before (if) resuming higher trade. All the above bull calls are ON HOLD.

On a short-term basis: We left a significant bearish reversal above on 11/26 which warned of lower trade in the days/weeks ahead in general. This is in a macro bearish correction. The decent trade below $78.72 (+1 tic per/hour) projects this downward $2.10 minimum, $6.50 (+) maximum. We have attained $16.29. The trade below $75.80 (-2 tics per/hour) has brought in $13.37 of pressure so far. The decent trade below $75.30-40 projects this downward $4 minimum, $9 (+) maximum, we have attained $12.87. These are ON HOLD. The break back above $64.84-43 warned of further strength before (if) resuming lower trade—we saw $8.50 of strength so far. The maintained gap higher Tuesday left a moderate bullish reversal below that warns of decent strength, likely for days. Decent trade below $69.63 will negate this. Decent trade above $71.82 (-1 tic per/hour starting at 9:00am) should bring in decent strength. HOWEVER, I would CAUTION we are holding lower timeframe exhaustion at $72.93-3.13. Trade below $69.47-22 will warn of pressure. Today has a greater likelihood of seeing range expansion.

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

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