Search

Crude Oil is Overall Bullish, but not Coming in Strong on the Day 3/24/22


On a macro basis: On 4/29/20 we left a bullish reversal below—we have seen $115.13 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 $72.48.


On a short-term basis: The trade above $93.05 brought in $37.45.The trade above $93.75 brought in $36.45. We held exhaustion at $92.52 with a $92.20 low and have bounced into a bullish correction or trend against the move down from the $126.42 high. On 3/17 we left a minor bullish reversal below. The last area of corrective exhaustion above comes in at $117.21-20.17, which is broken up into two areas (if this is a correction against the move down from the highs and not a trend—although this looks more trending in nature). We came shy of the lower of these with a $116.64 high and are rolling over a bit.


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.


Commodities trading involves a substantial degree of risk and may not be suitable for all investors. Michael Moor does not guarantee profits and is not responsible for any trading losses of subscribers. No representation is made, stated or implied, that any investor will achieve results, profits or losses, even remotely similar to hypothetical results. Past performance is by no means indicative of future results. Information provided in this newsletter is not to be deemed as an offer or solicitation with respect to the sale of purchase of any securities or commodities. Any copy, reprint, broadcast or distribution of this report of any kind is strictly prohibited without the express written consent of Michael Moor. Michael Moor may execute transactions in a proprietary trading account that may be consistent or inconsistent with the contents of the newsletter. The content, statements, and viewpoints expressed in this publication are those of Michael Moor solely in his individual capacity and are not attributable to any person or entity other than Michael Moor