12hr Stoch and RSI suggest a sharp rebound on Oil to 100/108 levels at least. This would be rough on markets and may kick the next big leg down if it gaps up.
Simply put, OPEC (Iran x Saudi) x War (Russia-Ukraine, Incl Sanctions) x Tightening (FED x Inflation) Scenario entails a run up with equities... Sounds familiar? (2007-2008) Banks/Institutions will be forced to close their short positions at a loss... Probability: Least Likely Key notes: -Physical disruptions of supply -Stagnating world...
I was one of the first people to call Powell's BS on "Transitory Inflation." Sheep listened... Inflation persisting to EOY = Red Target. Green target easily achievable. Mid-Macro bullish!
I am looking for a possible doji on daily TF and retrace back to fib level 106.5. All the war news has been priced in and there is also China and Taiwan. Inventory report was bullish -2 MBOE vs + 2 MBOE. Seasonality - We are heading into weak months march and April for oil. Good Luck!
In my Weekly Levels videos I have been saying for weeks that my long term target on oil is 100. This is the level that oil liked to hang out almost a decade ago for the better part of the last decade! Through this major run up over the last several weeks I have been looking for a meaningful pullback to take a long. We got that this morning on a pullback to test...
Hello from Genesis Go! As we can see here crude oil UCO recently fell 37% onto a strong trend-line support presenting us with a great buying opportunity!
USO reached multiple top pitchfork lines and is likely to start falling.
go long on uco bank it has a long way to give breakout on these range
Buying Oil stocks or Leveraged ETFs could be a good choice for the next 1-2 weeks: 1- NYSE:XOM 2- NYSE:CVX 3- OXY 4- NYSE:VLO 5- AMEX:UCO
Shoutout to my friend Greg Mannarino. I'm fully on board with his views on Crude Oil. I suggest you watch his videos to get a better understanding. The idea is that the price of crude oil is being propped up for a number of reasons. I suggest buying UCO, the Bloomberg levered crude stock, in order to maximize return. Crude WILL pass $62 this week. I want my...
We are talking US OIL today and some of the trades we have charted. Still holding a long position from 41 that we are comfortable with. Did take some of the position off but still large into it. Correlation stocks for us were: UCO and USO
Good morning, as you can see from the chart we are coming into the last reistance level for WTI Crude oil at 63.3-63.4 range. From there a clean break above and we open up the 66-76 level for oil. Watch in conjunction both USO and UCO as indicators of the strength of the move.
Hope you enjoy this brief overview of the UCO Chart as we look to further levels of resistance and support. We are above both the 50 and 200 MA so well within our parameters for upside.
We have a clean break of the resistance at $51 for UCO and now look for the next level, which is a long way off at $117 range. But we will hold as long as oil production has stopped in Texas and the pipeline system is off-line temporarily.
NYMEX:CL1! is trading now in long-term supply area ( resistance). After estabilished triple top price pattern we could see trading NYMEX:CL1! in falling channel.On hourly timeframe its clear downtrend and price forming hanging man pattern. After breakdown diagonal trendline price is testing it, its perfect setup to short entry. here is data for my...
Finally after sitting on UCO for months we are at the resistance level of 38.xx if we can break past this our next target is 51.xx range. Sitting on a few shares of this always is a long shot but a good chance to get back into oil.
Crude Oil chart is consolidating awaiting OPEC's decision to boost production by 500,000 B/d in February, with a total of 2 Billion B/d increase by April of 2021. Prices may dip to $45 level. Economic recovery from COVID-19 is in the cards with expectations of higher demand coming in the spring and into H2 of 2021. Currently, Crude Oil prices are holding grounds,...
If oil can't hold $42 range, SCO bearish oil.