CRUDE OIL PRICE for 4/29/20
On a macro basis:The decent trade below $29.88 has brought in $23.38 of the pressure warned about. On a short-term basis:The decent break below $16.18 has brought in $6.11 of the continued pressure warned about below. On 4/27 we left the short-term bearish reversal above warned about.A maintained gap higher today will leave a short-term bullish reversal below that will warn of renewed strength, possibly for days—but this will be more effective if we take out $16.18 decently in the process.
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.