$USOIL encountering heavy resistance 41.50 to 41.65; CAUTION!
A bull run is certainly en progress for $USOIL and oil-related stocks.
That said, it has yet to pass 42/b, and there is a looming sell-point for many hinging on the previous high of 43.
It is struggling badly to climb a resistance mid-41s, and that is stalling the bull run at least momentarily: Monitor this closely w/ alerts set both at 41/b and 43/b. Right now it see-saws between, as we wait to see what day traders have established as their new "Take-profit" point in this run. It has certainly edged past 40 possibly for a WHILE at least, which is a green sign for stocks such as LBRT, HAL, SOI, as well as the actual oil giants themselves. That first wheel is turning, that first cog: LBRT is pushing past 9.2/s with massive pre-market gains alluding to today's trading session. As for entry-points, the ideal ones were realized late last week, but there is plenty of correction still to cash in on with the OIL run today.
If OIL can close 42+, this bull run will gain more acceleration. Right now, it is trending down from the DAILY high, and that looks unlikely. Tough to call obviously. Best of luck n whatever else makes it here,
BDR
That said, it has yet to pass 42/b, and there is a looming sell-point for many hinging on the previous high of 43.
It is struggling badly to climb a resistance mid-41s, and that is stalling the bull run at least momentarily: Monitor this closely w/ alerts set both at 41/b and 43/b. Right now it see-saws between, as we wait to see what day traders have established as their new "Take-profit" point in this run. It has certainly edged past 40 possibly for a WHILE at least, which is a green sign for stocks such as LBRT, HAL, SOI, as well as the actual oil giants themselves. That first wheel is turning, that first cog: LBRT is pushing past 9.2/s with massive pre-market gains alluding to today's trading session. As for entry-points, the ideal ones were realized late last week, but there is plenty of correction still to cash in on with the OIL run today.
If OIL can close 42+, this bull run will gain more acceleration. Right now, it is trending down from the DAILY high, and that looks unlikely. Tough to call obviously. Best of luck n whatever else makes it here,
BDR
Comment:
Oil is breaking past this resistance zone and trending towards 42-plus. Good times.
