Crude oil is within bull trend 7/14/21
Kitco Commentaries | Opinions, Ideas and Markets Talk
Featuring views and opinions written by market professionals, not staff journalists.
On a macro basis: On 4/29/20 we left a bullish reversal below—we have seen $61.61 from that open at $15.37 in the (N). On 5/5/20 we left a medium-term bullish reversal below. We have seen $53.53 from $23.45. We held exhaustion below with a $34.04 low and rallied $42.94. On 11/16/20 we left a bullish reversal below. We have seen $34.66. The decent trade above $52.24 (+.5 of a tic per/hour) has brought in $24.74 of the strength warned about above. The break above $57.45-8.02 projects this upward $56 minimum, $110 (+) maximum. We have attained $18.96. These are ON HOLD.
On a short-term basis: Decent trade below $73.71 (+1.2 tics per/hour) brought in $2.95 of the decent pressure warned about. This is ON HOLD. The decent trade back above $72.57, warned of decent renewed strength. We have seen $2.95 of this so far. If we further break above the $75.19 (+1.2 tics per/hour starting at 9:00am) line decently, I would look for continued strength, likely toward $76.98. Decent trade below $71.62-46 (+.5 of a tic per/hour starting at 9:00am) will project this downward $4.20 minimum, $6.00 (+) maximum; but if we break below here decently and back above decently, look for decent short covering to come in. CLICK HERE FOR FULL ARTICLE.
NOTE: this is just a small portion of the market calls I provide my clients twice daily in the Crude and Energy/Gold/Bitcoin 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