The break back below $59.96-84 warned of heavier pressure, likely down toward $51.00 (-). We have seen $10.54 of this so far, taking out $51.00 on 2/3. This is ON HOLD. A maintained gap higher will warn of further short covering, likely for days. Decent trade back below $50.28 (-1.7 tics per/hour starting at 9:00am) should bring in decent pressure.NOTE: this is just a small portion of the market calls I provide my clients twice daily in the Crude and Energy/Gold complex. If you are interested, please feel free to reach out.
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