CRUDE OIL STILL PROJECTED HIGHER 6/23/20
On a macro basis:On 4/29 we left a bullish reversal below that warned of renewed strength, possibly for days—we have seen $21.14 of this so far.On 5/5 we left a medium-term bullish reversal below that warned of higher trade for days/weeks.We have seen $15.49 of this so far.The decent trade above $26.72 (-.8 of a tic per/hour) warned of decent strength—we have seen $14.67 of this so far.
On a short-term basis: The decent trade above $37.22 projects this upward $2.55 (+). We have attained $4.17 of this so far. The decent trade above $38.63 (-1 tic per/hour) projects this upward $1.40 minimum, $4.50 (+) maximum. We have seen $2.26 so far. If we break back below decently, look for decent pressure to come in. This will come in at $38.05 (-1 tic per/hour starting at 9:00am). A decent break below $40.22 (+3.3 tics per/hour starting at 9:00am) will put this below a steep, minor formation that will warn of pressure for at least $1.50.
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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