Crude oil is bearish within overall bullishness 1/21/22
Kitco Commentaries | Opinions, Ideas and Markets Talk
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On a macro basis: On 4/29/20 we left a bullish reversal below—we have seen $72.54 from that open at $15.37 in the (N). On 5/5/20 we left a medium-term bullish reversal below. We have seen $64.46 from $23.45. The break above $57.45-8.02 projects this upward $56 minimum, $110 (+) maximum. We have attained $29.89. The sustained trade above $76.90-98 warned of $70 to the upside over the next 18 months—this outlook would be negated with trade at $59.30. All the above we rolled into (H) from previous contracts.
On a short-term basis: We have seen $19.30 from the 12/17 close at $68.61. The trade above $71.36 (-1.5 per/hour) projects this upward $5.20 minimum, $9.00 (+) maximum. We have attained $16.55. All of the above are ON HOLD. I warned in the Post Market Synopsis that this went out weak on the day and warning of pressure before (if) resuming higher trade—we came off $2.77. A maintained gap lower will leave a minor bearish reversal above, that will be situated where it could have legs to the downside. CLICK HERE FOR FULL BLOG.
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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