Crude Still Bearish Within Consolidation, but Approaching Breakout Bull Formation Above 7/13/20
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.The bull projections are ON HOLD.
On a short-term basis: This is short-term bearish within the recent consolidation. Decent trade above $40.66-68 will project this upward $1.00 minimum, $6.90 (+) maximum; but if we break above here decently and back below decently, look for decent pressure 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 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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