Crude Oil Poised for Much Higher Trade in General 2/10/21
On a macro basis: On 4/29 we left a bullish reversal below that warned of renewed strength for days—we have seen $43.78 from that open at $15.37 in the (M).On 5/5 we left a medium-term bullish reversal below. We have seen $35.67 from $23.08.I would be aware we took out a major trendline at $55.15, which now warns of significant strength in the weeks/months ahead, with a good likelihood of a run for $65.60 (++).We have seen $3.61 of this so far. The break above $57.45-8.02 now projects this upward $56 minimum, $110 (+) maximum—the minimum could be attained within as little as 10 months. Solid failure back below here will warn of solid pressure.
On a short-term basis: We held exhaustion below with a $34.04 low and rallied $24.72. On 11/3 we left a short-term bullish reversal below that warned of strength for days. We have seen $20.30 of this so far. On 11/16 we left a short-term bullish reversal below. We have seen $16.43.The decent trade above $45.21 (-1 tic per/hour) warned of renewed strength—we have seen $13.55 of this. The decent break above $47.92 (+.3 of a tic per/hour) has brought in $10.86 of the decent renewed strength warned about above. The decent trade above $52.24 (+.5 of a tic per/hour) has brought in $6.61 of the strength warned about above. The decent trade above $53.94 warned of continued strength. We have seen $5.66 of this so far.
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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