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Crude Oil is Overall Bullish 10/18/21

On a macro basis: On 4/29/20 we left a bullish reversal below—we have seen $67.73 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 $25.08.The trade above $59.50 brought in $23.60 of strength. NOTE: the sustained trade above $76.90-98 warns of another $70 to the upside over the next 18 months, although at the same time we may be in the final stretch of this bull structure—so we may see a bearish correction along the way.These all roll into the (Z) contract.

On a short-term basis: The decent trade above $65.80-85 has brought in $17.25 of strength so far. The decent trade above $76.76 has brought in $6.34 of renewed strength. The decent trade above $78.48 has brought in $4.62 of renewed strength. On 10/7 the maintained gap higher left a minor bullish reversal below—we have seen $3.93 so far from the $79.17 open. The decent trade above $80.67 (-2 tics per/hour) has brought in $2.43 of strength. These all roll into the (Z) contract. Decent trade below $79.42 (-1.3 tics per/hour starting at 9:00am) will warn of renewed pressure. I warned in the Post Market Synopsis that today has a good likelihood of seeing range expansion—we have already exceeded Friday’s range.

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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