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Crude Oil is Bullish in General 1/7/22


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. We held exhaustion below with a $34.04 low and rallied $51.37. The decent trade above $45.21 warned of renewed strength—we have seen $40.20 of this. The decent trade above $52.24 has brought in $33.17 of the strength warned about above. We took out a major trendline at $55.15, which warned of significant strength. We have seen $30.26.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. 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, although I warned at the same time, we were likely in the final stretch of this bull structure and may now be in a bearish correction against this before (if) resuming higher trade (which we saw in November, and could still see another macro leg down if we do not take out the highs). All the above are ON HOLD.


On a short-term basis: The significant bearish reversal left on 11/26 was violated Wednesday, warning of a run for the highs (+).We have seen $11.86 from the 12/17 close at $68.61.The maintained gap higher on 12/18 left a minor bullish reversal below—we have seen $10.99 from the $69.48 open. The trade above $69.70 warned of decent strength—we have seen $10.77.The trade above $71.36 (-1.5 per/hour) projects this upward $5.20 minimum, $13.20 (+) maximum. We have attained $9.11. Wednesday we also took out the last key possible exhaustion area, opening the upside up to higher trade in general.


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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