Crude is overall bullish, but hovering over a bearish formation 2/15/22
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On a macro basis: On 4/29/20 we left a bullish reversal below—we have seen $80.45 from that open at $15.37 in the (N). On 5/5/20 we left a medium-term bullish reversal below. We have seen $72.37 from $23.45. The break above $57.45-8.02 projects this upward $56 minimum, $110 (+) maximum. We have attained $37.80.
On a short-term basis: The trade above $89.36 (-4.3 tics per/hour) has brought in $6.78 of the strength warned about. The decent trade above $91.24 (-1.5 tics per/hour) has brought in $4.58 of the strength. Decent trade below $90.56 (-1.5 tics per/hour starting at 8:00am) should bring in decent pressure; but if we break below here decently and back above decently, look for decent short covering. 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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