Crude Oil (WTI) is Overall Bullish 6/28/21
On a macro basis: On 4/29/20 we left a bullish reversal below—we have seen $59.08 from that open at $15.37 in the (N). On 5/5/20 we left a medium-term bullish reversal below. We have seen $60 from $23.45. We held exhaustion below with a $34.04 low and rallied $40.41. On 11/3/20 we left a short-term bullish reversal below that warned of strength for days. We have seen $36 of this so far. On 11/16/20 we left a short-term bullish reversal below. We have seen $32.13. The decent trade above $45.21 (-1 tic per/hour) warned of renewed strength—we have seen $29.24 of this. The decent break above $47.92 (+.3 of a tic per/hour) has brought in $26.53 of the decent renewed strength warned about above. The decent trade above $52.24 (+.5 of a tic per/hour) has brought in $22.21 of the strength warned about above. We took out a major trendline at $55.15, which warned of significant strength in the weeks/months ahead. We have seen $19.30.The break above $57.45-8.02 projects this upward $56 minimum, $110 (+) maximum. We have attained $16.43.The trade above $59.50 brought in $14.95 of strength.
On a short-term basis: I warned on 5/21 this was poised for higher trade—we have seen $11.38.On 5/24, we left a bullish reversal below. We have seen $9.74.The decent trade back above $64.73-98 (+.8 of a tic per/hour) warned of decent renewed strength--we have seen $9.67.Decent trade above $74.32 (+1.3 tics per/hour starting at 9:00am) should bring in continued higher trade; but if we break above here decently and back below decently, look for decent pressure to come in. Decent trade below $70.91 (+1 tic per/hour starting at 9:00am) will project this downward $3.20 (+); but if we break below here decently and back above decently, look for decent short covering to come in.
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.
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