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Crude Oil is Overall Bullish, but Currently in Consolidation 3/4/22


On a macro basis: On 4/29/20 we left a bullish reversal below—we have seen $101.20 from that open at $15.37 in the (N). The break above $57.45-8.02 projects this upward $56 minimum, $110 (+) maximum. We have attained $58.55.


On a short-term basis: The trade above $93.05 (+3.5 tics per/hour) brought in $23.52 of the strength. The trade back above $93.75 has brought in $22.82 tics of strength. The solid break above $101.90 warned of solid strength—we have seen $14.67. All of the above are ON HOLD. We held the exhaustion above yesterday with a $116.57 high and rolled over $10.14.We broke below a steep formation overnight that warns of decent pressure. Decent trade back above where this comes in at $111.39 (+20.5 tics per/hour starting at 8:00am) should bring in renewed strength and will take bull calls OFF HOLD. Decent trade below 10957 (+9.5 tics per/hour starting at 8:00am) will warn of decent pressure as well.


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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