On a macro basis:On 5/5 we left a medium-term bullish reversal below that warned of higher trade for days/weeks. We have seen $15.41 of this so far.This is ON HOLD.
On a short-term basis:On 4/29 we left a bullish reversal below that warned of renewed strength, possibly for days—we have seen $21.06 of this so far.This is now ON HOLD as well. The decent trade below $38.50 (+2.8 tics per/hour) projects this downward $1.90 minimum, $6.20 (+) maximum.We have seen $4.02 of this so far before holding a likely temporary exhaustion level at $34.46.Decent trade back above here should bring in decent short covering.This will come in at $39.17 (+2.8 tics per/hour starting at 9:00am). Yesterday we also left a short-term bearish reversal above. Decent trade above $37.84 will negate this and warn of a run for the trendlines and highs above.
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
Comentarios