Crude Oil is Projected Higher Short Term 7/29/22
On a macro basis: On 4/29/20 we left a bullish reversal below—we have seen $115.13 from that open at $15.37 in the (N). On 5/5/20 we left a medium-term bullish reversal below. We have seen $107.05 from $23.45. We held exhaustion below with a $34.04 low and rallied $96.46. The trade above $45.21 warned of renewed strength—we have seen $85.29 of this. The trade above $52.24 has brought in $78.26 of the strength warned about above. We took out a major trendline at $55.15, which warned of significant strength. We have seen $75.35.The break above $57.45-8.02 projects this upward $56 minimum, $101 (+) maximum. We have attained $72.48. The sustained trade above $76.90-98 warned of $70 to the upside over the next 18 months. The trade above $80.03 brought in $50.47.The trade above $84.58-82 brought in $45.68. All of the above are ON HOLD.
On a shorter-term basis: The trade below $119.15 brought in $30.92 of pressure. The trade below $115.90 projected this downward $8.85 (+). We attained $27.67.We held corrective exhaustion within at $114.05 and rolled over $25.82.The trade below $111.00 brought in $22.77 of pressure. The trade below $105.73 brought in $17.50 of pressure. The trade below $104.48 (+1 tic per/hour) projects this downward $9.30 minimum, $17.40 (+) maximum. We attained $16.25.These are ON HOLD. This warned of a bullish correction against the move down from the highs exceeding $9.83—we rallied $13.65 from the $88.23 low. The decent trade above $96.85 (-3 tics per/hour) warns of decent higher trade. We have seen $5.03. The trade above $99.30 (-.7 of a tic per/hour) projects this upward $3.40 minimum, $13 (+) maximum; but if we break back below decently, look for decent pressure. Decent trade below $96.55 (+3 tics per/hour starting at 12:00pm) should bring in 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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