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Crude Oil (WTI) is Bullish 5/26/21

On a macro basis: On 4/29/20 we left a bullish reversal below—we have seen $52.61 from that open at $15.37 in the (M). On 5/5/20 we left a medium-term bullish reversal below. We have seen $44.90 from $23.08. We took out a major trendline at $55.15, which warned of significant strength in the weeks/months ahead, with a good likelihood of a run for $65.60 (++). We have seen $12.81. The break above $57.45-8.02 projects this upward $56 minimum, $110 (+) maximum. We have attained $9.96. These are OFF HOLD. I noted we were likely in the last stretch from $30.00 upward and the failure back below $66.67-63 warned of early termination entry into a macro bearish correction. We only saw $5.07 of this before short covering back above the formation mentioned below, so this is now ON HOLD.

On a short-term basis: The decent trade back above $64.73-98 (+.8 of a tic per/hour) warns of decent renewed strength toward $67.00(+).We have seen $1.53 so far. I warned Friday morning we are in a lower timeframe bullish correction/trend against the move down from $67.02, that will likely bring in upward consolidation—we have seen $3.44 so far. Monday, we left a short-term bullish reversal below. Decent trade below $64.07 will negate this and warn of renewed pressure and put the higher timeframe bearish reversal back in play. I noted in the Post Market Synopsis that on the day itself this warns of pressure before (if) resuming higher trade if we cannot take out $66.51 to maintain upside momentum--we came off 81 tics before resuming higher trade. I also warned today has a good likelihood of seeing range expansion--we have already exceeded yesterday's range.

NOTE: this is just a small portion of the market calls I provide my clients twice daily in the Crude and Energy/Gold/Bitcoin complex. 'Decent penetrations' are specific amounts provided to clients daily as well. If you are interested, please feel free to reach out.

Commodities trading involves a substantial degree of risk and may not be suitable for all investors. Michael Moor does not guarantee profits and is not responsible for any trading losses of subscribers. No representation is made, stated or implied, that any investor will achieve results, profits or losses, even remotely similar to hypothetical results. Past performance is by no means indicative of future results. Information provided in this newsletter is not to be deemed as an offer or solicitation with respect to the sale of purchase of any securities or commodities. Any copy, reprint, broadcast or distribution of this report of any kind is strictly prohibited without the express written consent of Michael Moor. Michael Moor may execute transactions in a proprietary trading account that may be consistent or inconsistent with the contents of the newsletter. The content, statements, and viewpoints expressed in this publication are those of Michael Moor solely in his individual capacity and are not attributable to any person or entity other than Michael Moor

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