CL - Weekly / Pivotal Momentum Approaching

Crude Oil FuturesNYMEX

Description

⋅ Jan 17, 2022 7:44 PM

Crude Oil is extremely interesting at present.

$84 is the Level we are watching closely, not the Highs @ 85.41
as they will be important later this week.

This is a No Man's Land Trade at this Time.

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We anticipate a significant change of $10 on either side of $84.

To complicate matters is the Extension to $104 and then $112 should
CL holds the 84s for another two weeks.

There are a number of Indicators that will follow on to indicate the
potential outcomes.

The Baltic Dry Index to Crude Oil Ratio is an important one with a
prior leading Indications of Corrections and how they manifest themselves.

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Of late JOM has been out forecasting the $100 to $1125 Level this year.

Higher forecasts border on $200.

Retail is very much all in for Higher.

We hold NO Positions presently - instead of choosing to watch which way
this will Break, $74 OR $94.

Weekly Cloud Momentum Support is @ $74.

Open interest for March is biased to the Calls, with a widespread. Institutions
are not frankly engaged, as the Green Agenda is keeping them away from
"Dirty" Investments, or so it is claimed.

$ is their driving factor, regardless of Public expression(S).