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, rolled into (V).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 (V).
On a short-term basis:The decent break above $42.10 warned of renewed strength—we have seen $1.19 of this.The decent trade above $42.58 (-.6 of a tic per/hour) warns of continued higher trade; but if we break back below decently, look for decent pressure come in—this will come in at $42.34 (-.6 of a tic per/hour starting at 9:00am). However, there is a higher formation now coming in at $42.68 (+1 tic per/hour starting at 9:00am),a decent break below which will warn of renewed pressure.If we break below here decently and back above decently, look for decent short covering to come in. NOTE: Heat and Gas Oil have failed back below their respective bullish lines, bringing in pressure.
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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