On a macro basis: On 4/29/20 we left a bullish reversal below—we have seen $61.61 from that open at $15.37 in the (N). On 5/5/20 we left a medium-term bullish reversal below. We have seen $53.53 from $23.45. We held exhaustion below with a $34.04 low and rallied $42.94. On 11/3/20 we left a short-term bullish reversal below that warned of strength for days. On 11/16/20 we left a bullish reversal below. We have seen $34.66. The decent break above $47.92 (+.3 of a tic per/hour) has brought in $29.06 of the decent renewed 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 $21.83.The break above $57.45-8.02 projects this upward $56 minimum, $110 (+) maximum. We have attained $18.96. The trade above $59.50 brought in $17.48 of strength. I warned on 5/21 this was poised for higher trade—we have seen $13.91.
On a short-term basis: The maintained gap higher on 8/10 left a small bullish reversal below. Decent trade below $66.79 will negate this and should bring in renewed pressure. I warned Thursday in the Post Market Synopsis that on the day this warns of pressure before (if) resuming higher trade, and again Friday that this was poised for lower trade again before/if resuming higher trade—we have come off $2.26from Thursday’s close. A maintained gap lower will warn of pressure. Decent trade above $69.01 (-1 tic per/hour starting at 9:00am) will warn of renewed strength, but this is not well formed enough yet to suggest leaning against as a long.
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