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Crude Oil is Bearish Within Overall Bullishness 1/21/22


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 maintained gap higher on 12/18 left a minor bullish reversal below—we have seen $18.43 from the $69.48 open. The trade above $69.70 warned of decent strength—we have seen $18.21. The trade above $71.36 (-1.5 per/hour) projects this upward $5.20 minimum, $9.00 (+) maximum. We have attained $16.55. The decent trade above $83.05 (+.6 of a tic per/hour) has brought in $4.86 so far. 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. A 60 tic break back above $84.73 will warn of a run for the recent highs +.


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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