Mike's Mid Day Minute is available to members on Monday, Wednesday & Friday evenings, with one article per week available to non-members. Members please login and see "Mike's Mid Day Minute" in the navigation menu towards the top of the page.

NYMEX WTI Crude Oil Continues to Exhibit Strength and Buoyancy


The most salient feature of my intermediate-term technical set-up in nearby NYMEX Crude Oil is the fact that after failing to hurdle its 200-Day EMA twice in March and April, the price structure is trading above it now (220-Day EMA is at $41.81), which is a very promising technical signal.

Oil has not traded above its 200-Day EMA since July 2014, when Oil was trading near $100/bbl.

In addition, the 200-Day EMA is flat to upturning, which suggests that the Jan-Apr accumulation period indeed, represents an intermediate-term bottom, that implies potential upside combustion to $48 - $52 next, and possibly $58 - $60 prior to the conclusion of a multi-month recovery rally.

  • Action-Oriented Trade Set-Ups in Stocks & ETFs
  • Macro Analysis of the Broader Markets
  • Detailed Technical Guidance for each Trading Idea
  • Live Interaction w/ Mike & Our Member Community
  • And Much, Much More!
Join Now! - Special Offer!
Veteran Wall Street analyst and financial author, Mike provides detailed and timely analysis and trade set-ups on a range of markets. Read more...

Have Mike's “Out Front” morning analysis delivered FREE to your email inbox twice weekly!