Possible bear oil ETF price action
The window for bull oil $51 is not possible do to the seasonality of oil. I was looking for an additional price spike, but oil only had a strong correction. I feel oil may try to work it's way towards $40 this downturn.
Targets are best guesses for daily oil prices on an ETF. I'm not sure on the timing of the price action, but I can see a move happening very very soon.
Good trade ideas can go differently than forecasted and it's your job to know what to do next. This idea isn't investment advise and you need to manage your own trades.
Targets are best guesses for daily oil prices on an ETF. I'm not sure on the timing of the price action, but I can see a move happening very very soon.
Good trade ideas can go differently than forecasted and it's your job to know what to do next. This idea isn't investment advise and you need to manage your own trades.
Trade active:
oil in a triangle. I'd wait for a break on the daily chart
Trade active:
crude still looks bear. I think oil may see $44 on Tuesday as long as the 1 hour stays below the 10ema. Target box looks good on SCO and $47ish should be the max.