CRUDE OIL PRICE for 4/27/20
The decent trade below $26.06 (+1 tic per/hour) warned of continued pressure for $7.70 (+).We have seen $19.56 of this so far.The decent break below $16.18 is now bringing in some of the continued pressure warned about below with a $2.79 lower call as of 6:04am.Trade below $13.52-35 is a further sign of weakness; but if we break below here and back above, look for short covering to come in. Trade above $18.26 should bring in renewed strength.
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.