Crude oil is bullish 10/11/21
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 $66.21 from that open at $15.37 in the (N). The break above $57.45-8.02 projects this upward $56 minimum, $110 (+) maximum. We have attained $23.56.The trade above $59.50 brought in $22.08 of strength. NOTE: the sustained trade above $76.90-98 warns of another $70 to the upside over the next 18 months, although at the same time we may be in the final stretch of this bull structure—so we may see a bearish correction along the way.
On a short-term basis: The decent trade above $78.48 has brought in $3.10 of the renewed strength we are looking for above. Friday’s maintained gap higher left a minor bullish reversal below—we have seen $2.41 so far from the $79.17 open. The decent trade above $80.65 (+2 tics per/hour) now warns of continued strength; but if we break back below decently, look for decent pressure to come in for $2.00 (+). 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.
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