Crude oil is bearish within overall bullishness, unless we take out formation above

New York (Jan 26)  On a macro basis: On 4/29/20 we left a bullish reversal below—we have seen $72.54 from that open at $15.37 in the (N). On 5/5/20 we left a medium-term bullish reversal below. We have seen $64.46 from $23.45. The break above $57.45-8.02 projects this upward $56 minimum, $110 (+) maximum. We have attained $29.89.

On a short-term basis: The decent trade below $84.01-3.79 (+3 tics per/hour) projects this downward $2.00 minimum, $4.00 (+) maximum; but if we break back above decently, look for decent short covering (likely toward the recent highs (+)).This will come in at $34.40-63 (+3 tics per/hour starting at 7:00am).

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