timwest
Long

Crude Oil - April Contract - Long Entry at Middle of Rally

NYMEX:CLJ2015   LIGHT CRUDE OIL FUTURES
1358 11 21
If you start from the close of the day when the market had its Lowest High in the decline and look at the midpoint of that rally, it is right here.

I like to buy pullbacks to the mid-point of a big range-expansion move up and that puts us at the entry level here.

Target back to the highs and risk a drop to the 75% pullback level.

Tim

1:25PM EST
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WeeMee
2 years ago
very interesting, price is at 49.36 now. but the stop loss at 47.73 is too expensive for my account
+3 Reply
ucsgears PRO WeeMee
2 years ago
Use Options on USO.
+1 Reply
timwest PRO WeeMee
2 years ago
Try QMJ2015 instead. Or options.
Reply
FXKOPPA timwest
2 years ago
which broker used for options?
Reply
timwest PRO
2 years ago
The maximum support level held -
+1 Reply
Mickette
2 years ago
Tim, I would like to add some "support" to your "entry Long" posting
snapshot
+2 Reply
2use
2 years ago
Which countries do you think this may impact the most (benefit)? What is your idea of the best way to invest in OIL?
Reply
timwest PRO 2use
2 years ago
If you/me put up about 10 different ideas here - we can all vote on which charts we like the most! There are so many ways to get exposure: Oil Majors (XLE, CVX, BP, RDS.B), Oil Service (OIH, SLB, HAL, RIG, SDRL), etc. Countries like Norway (Norwegian Kroner, perhaps), Canada. There are many junior exploration and development companies. (( In the MLP sector, The Pipeline Companies may have been unfairly trashed last year as investors bailed out of the sector, leaving some great values, but these are independent of oil prices moving up or down since they just charge a fee. )) Feel free to post a handful or more of charts here and let's review them.
Reply
2use timwest
2 years ago
Being distant to some some industries (or should i say young and specializing only in some), i was interested to get such a comment from a person knowing more about them. I've made only one chart and even that is a high level speculation before the month's end. But one cannot miss the fact of a bounce of of that level
CL1 - trade idea for end of february
Russia also gets is bounce (so do some middle eastern countries). I actually am able to trade SLB HAL and RIG so i will look the up. Thanx for the tips!
Reply
littleriver 2use
2 years ago
Here is one chart I am following. May not provide the best return in the group but the chart is easy for me to read. We have a confirmed double bottom. Looking for a long entry on any retrace below 27.
snapshot
Reply
2use littleriver
2 years ago
It filled the gap as well, so indeed only a confirmed break
Reply
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