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Speculator70

Auction Market Theory Daily Analysis Emini & Crude Oil

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Analysis Video

 

 

Crude Oil

 

Breaking Down in the low 39's early Sunday night trade but is now putting the pressure of Friday's low for a possible formation of a Spring forming on the daily bar. Watch for either exhaustion or acceptance into the Daily value low area on 39.80-40.00 to plan your morning.

 

Emini

 

Continuation could be very possible if the overnight trade is unable to trade below Friday's close. If it does break watch for opportunities to buy against the Daily Mid at 2078-80 area.

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Crude:

 

Another shakeout produced with the the Inventory Report and it didn't take long for the short to re-establish position to the downside. The CL in in a steady migration lower and should be traded as such. Look for exhaustion against 37.50-70 area for continuing the move downward.

 

EMini:

 

What can I say I've been bias to the long side but after today anything trading basically below 2060 the shorts are in play. 2035 is the Daily chart value low and we bounced off it today. Continued pressure to the downside won't have a problem going to re-test that bounce. Institutional trade to the upside has been evident form the mid 2050's as well for the past three weeks.

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Both the Crude Oil and ES Markets have a great shot at reserving the downward move tomorrow.

 

Crude has to stay above 36.00 and if the Emini gets above today's value high of 2022, quite possibly will push back into the prior Daily Value low of 2035 area.

 

Crude if it catches a bid can reverse a few key resistance areas triggering possibly strength and upward momentum.

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