On a macro basis: On 4/29/20 we left a bullish reversal below—we have seen $70.04 from that open at $15.37 in the (N). On 5/5/20 we left a medium-term bullish reversal below. We have seen $61.96 from $23.45. The break above $57.45-8.02 projects this upward $56 minimum, $110 (+) maximum. We have attained $27.39. The trade above $59.50 brought in $25.91 of strength. NOTE: the sustained trade above $76.90-98 warns of $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: On 10/7 the maintained gap higher left a minor bullish reversal below—we have seen $6.24 so far from the $79.17 open. The trade above $80.67 (-2 tics per/hour) has brought in $4.74 of strength. Decent trade below $82.78 (+1.7 tics per/hour starting at 9:00am) will project this downward $3.40 (+). NOTE: the RBOB (Unleaded Gasoline) has broken below a bearish formation.
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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