On a macro basis:On 4/29 we left a bullish reversal below that warned of renewed strength for days—we have seen $37.77 from that open at $14.98 in the (M).On 5/5 we left a medium-term bullish reversal below.We have seen $29.67 from $23.08.
On a short-term basis: We held exhaustion below with a $34.04 low and rallied $18.71. On 11/3 we left a short-term bullish reversal below that warned of strength for days.We have seen $14.10 of this so far.On 11/16 we left a short-term bullish reversal below.We have seen $10.42.The decent trade above $45.21 (-1 tic per/hour) warned of renewed strength—we have seen $7.54 of this. The decent break back above $47.92 (+.3 of a tic per/hour) has brought in $4.83 of the decent renewed strength warned about above.I would also note that the $51.21-2.37 general area is a possible major exhaustion area for a correction against the move from $67.91 down to $27.22, although we violated this by 38 tics, it could still be considered as generally holding given the magnitude of the move we are correcting/trending against, but if we take out $52.75 I would consider it negated. Failure back below the $49.83-43 general area should bring in renewed pressure again.
NOTE: this is just a small portion of the market calls I provide my clients twice daily in the Crude and Energy/Gold 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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