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Crude Poised for Profit Taking 7/20/20

On a macro basis:On 4/29 we left a bullish reversal below that warned of renewed strength, possibly for days—we saw $21.14 of this, and it rolls into (U).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, rolled into (U).The decent trade above $26.72 (-.8 of a tic per/hour) warned of decent strength—we have seen $14.67 of this, rolled into (U). These are ON HOLD. I would NOTE: that in the (U) contract there are two major pictures being played out: 1.) the decent break above $36.15 projects this upward $14.15 (+), but will not be negated until this trades $32.60; and 2.) on the way up there are major areas of possible exhaustion to contend with if this is a corrective move against the move down from $61.44 to $21.99 which come in at $41.71-2.45, $46.37-72 and higher—the lower of which we held on with a $41.74 high on 6/23.

On a short-term basis:The decent trade below $40.53-52 warns of renewed pressure. Decent trade back above will negate the bias. Decent trade below $40.01-39.99 will project this downward $1.90 minimum, $6.60 (+) maximum.

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.

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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