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Crude Still Short Term Bearish, but Unleaded has Resumed Bullishness and Crude Will Likely Follow


Directional Opinion: We settled in a bull leg technically, but I would override this for now. Settlement below $52.27 will start this in a bear leg. On a macro basis: On 4/29 we left a bullish reversal below that warned of renewed strength for days—we have seen $38.95 from that open at $14.98 in the (M). On 5/5 we left a medium-term bullish reversal below. We have seen $30.85 from $23.08. These roll into (H) and are ON HOLD.


On a short-term basis: We held exhaustion below with a $34.04 low and rallied $19.89. On 11/3 we left a short-term bullish reversal below that warned of strength for days. We have seen $15.28 of this so far. On 11/16 we left a short-term bullish reversal below. We have seen $11.60. The decent trade above $45.21 (-1 tic per/hour) warned of renewed strength—we have seen $8.72 of this. The decent break back above $47.92 (+.3 of a tic per/hour) has brought in $6.01 of the decent renewed strength warned about above. These roll into (H). These roll into (H) and are ON HOLD. The decent trade below $52.67 (+1.2 tics per/hour) projects this downward $1.30 minimum, $1.90 (+) maximum; but I stopped short of suggesting leaning against this as a short. However, if we break back above decently, I would get long above and look for decent renewed strength to come in. This will come in at $53.18 (+1.2 tics per/hour starting at 9:00am). NOTE: RBOB (Unleaded Gas) has violated its equivalent bearish formation on the upside, which warns Crude may follow suit.


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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