Crude Oil is Projected Higher 9/2/21
On a macro basis: On 4/29/20 we left a bullish reversal below—we have seen $61.61 from that open at $15.37 in the (N). On 5/5/20 we left a medium-term bullish reversal below. We have seen $53.53 from $23.45. We held exhaustion below with a $34.04 low and rallied $42.94. On 11/3/20 we left a short-term bullish reversal below that warned of strength for days. We have seen $38.53 of this so far.On 11/16/20 we left a bullish reversal below. We have seen $34.66. The decent trade above $45.21 (-1 tic per/hour) warned of renewed strength—we have seen $31.77 of this. The decent break above $47.92 (+.3 of a tic per/hour) has brought in $29.06 of the decent renewed strength warned about above. The decent trade above $52.24 (+.5 of a tic per/hour) has brought in $24.74 of the strength warned about above. We took out a major trendline at $55.15, which warned of significant strength in the weeks/months ahead. We have seen $21.83.The break above $57.45-8.02 projects this upward $56 minimum, $110 (+) maximum. We have attained $18.96.The trade above $59.50 brought in $17.48 of strength. I warned on 5/21 this was poised for higher trade—we have seen $13.91.
On a short-term basis: The decent trade above $65.80-85 warns of decent renewed strength, with a possibility of a run for the highs. We have seen $3.79 of this so far. On 8/23 we also left a minor bullish reversal below. The decent trade above$67.28 (-1 tic per/hour) projects this upward another $5.20 (+).We have attained $2.36 so far. These are ON HOLD. The decent trade below $68.70 (+2 tics per/hour) put this below a minor bearish formation that warned of decent pressure—we saw 158 tics of this before short covering off the low. Decent trade above $68.58 (-1.2 tics per/hour starting at 9:00am) will put this above a minor pattern that will warn of continued strength; but if we break above here decently and back below decently, look for decent pressure.
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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