CRUDE OIL PRICE for 5/1/20
On a macro basis:The decent trade below $29.88 has brought in $23.38 of the pressure warned about. 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.These are ON HOLD.
On a short-term basis:Wednesday we left a short-term bullish reversal below that warned of renewed strength, possibly for days—we have seen $5.28 of this so far.Trade back below the $18.62-7.97 general area will warn of profit taking, and trade below $16.78-33 will warn of additional pressure.
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.