USO on the 60 minute chart is currently in a broadening wedge and reflecting down off a
reversal at the upper resistance trend line. The MACD lines have crossed over the histogram
and are trending down showing moving average convergence. Price is between the mean and
first upper band lines and moving down toward the former. Current factors at play...
USO follows the futures prices of oil barrels. On this 30 minute chart, price falls have been
rejected by the POC line of the volume profile and the Lux Algo Donchian channel has
transitioned from downgoing to trending up. The dual TF RSI of Chris Moody now shows
RSI holding above 50 in both the 15 min and 60 min TFs. Net distribution has bottomed out
and...
USO while the middle east, the Houthi rebels and the Suez Canal shipping quagmire affect
oil liquidity globally and prices at the pump continue to be volatile the federal government
seeks contracts to restore the national strategic reserves depleted in the last supply demand
challenge while the presidential and congressional election cycle starts warming...
UCO is shown here as a one month trend - It is sitting on the rising support tendline about
2% below the recent high. Oil prices contribute to inflation. Anyone in the USA is aware of
gasoline prices at the pump. Geopolitics plays into price. At present, US Navy warships are
consuming refined oil and heading to the Middle East. Iran and Russia are sanctioned...
On Thursday January 11th ( earlier today) WTI Crude prices gyrated widely
likely in reaction to US /UK intervention on the terrorists who seized a tanker on the behalf of
Iraq in the Red Sea / Suez Canal area putting shipping and supply concerns into the oil industry
to offset any weak demand. The 15 minute chart shows a megaphone pattern as a...
CVX today dropped suddenly for unclear reasons. The possibility of a Israeli - Hamas War
cease-fire may have led to expectations that oil prices would fall as the shipping
quagmire in the Red Sea might stabilize. Later in the day OPEC+ announced a raised target of
$ 1.00 per barrel higher which on balance seems to be an offset maneuver. CVS in the ...
The US Energy Department has announced open bids for oil contracts to replenish the
national strategic reserve which was depleted during the prior run up on global oil prices.
This is a sure sign that the feds think that spot oil has but in a bottom especially in the context
of shipping disruptions and higher insurance costs due to terrorism /piracy in the...
USO on the weekly chart over the past two and a half years makes a symmetrical triangle
patter with the upper and lower trendlines drawn in. Price appears to be dropping out of
the pattern in a breakdown and she now yet tested the prior support trendline as resistance.
The Stochastic RSI and Zero Lag MACD are confirmatory. The Relative volatility indicator...
UCO popped in April and then dropped into a consolidation in May and June where
it set up a base shown by the POC line on the volume profile. Once over the POC
on July 6th on the daily chart coinciding with a golden cross on the HMA 56/210
combination the bull trend began. The dual time frame RS lines in the 60s suggest
more to come. I am trading UCO and...
SDRL is a Scandavania / UK-based company supporting offshore oil drilling projects. On the
daily chart I have drawn a green support trendline and a red resistance trendline from the
higher weekly timeframe. Fundamentally- it has had two consecutive earnings beats. Per
Tradingview, the average analyst has a price of $45 as a target and technically it...
COP has had a brief trend up in the past three and a half trading days of about 8%. An analysis
of the 30 minute chart suggests this could reverse. Firstly, the HA candles are now narrow-
ranged and more or less Dojis. The MTF RSI indicator of Chris Moody shows dropping RSI
on the 5 minute TF while it is hold up at 100 on the 60 minute TF. The former is...
OILU is a risky high volatility ETF on oil exploration and production. Where there are risk
and volatility there can also be plentiful profits. On the 4H chart,OILU can be seen breaking
up through long-term anchored VWAP bands in a trend that began in mid-May. Price is
now approaching the mean VWAP lines. The POC line validates those VWAP lines coming in
at...
NRGD goes up when oil goes down; this ETF tracks the oil futures ; it is leveraged and managed.
Here on the one-hour chart with an Bollinger Bands and EMA bands indicator added, it can be
seen that price had been trending down in two waves beginning June 1st , Upon dropping
outside the BB lower line, price reversed upward to reach the upper BB line and...
USOUSD today on the 15-minute chart dropped on a downtrend outside the Bollinger (lower)
Band (49, ohlc,2) hit a Doji candle and then started the upward retracement. The RSI indicator
shows relative strength hitting a bottom and bouncing up. RSI is about to go over 50. Price
is currently below the high volume area with the POC line aligned with the basis...
ERX is a leveraged ETF tracking the energy sector. On the 4H chart it has been in a downtrend
since mid-March. IT dropped to the bottom of the high volume area on the long term profile
as well as the lowermost VWAP band. Firday May 12th marked the reversal with buying volume
replacing selling volume and then a significant rise in price in the past week.
...
NRT an oil trust stock, is up 75 % for the year despite global challenged market. It is in the middle of its trading range for the past 12 months.
Given the situation in Europe and lack of Russian oil in the free global oil market. I see this as a long-term swing play on energy with
upside heading into the European winter heating season. With the RSI between...
OXY as shown on the chart is still in a megaphone pattern.
Horizontal resistance red line is the all time highs of Spring 2018.
In the past several trading sessions, spot oil has dropped from $96 to $87.
The MACD indicator which is lagging shows the K / D cross over the histogram.
Accordingly, OXY is now trending downward to the mid-Fibonacci retracement...
VET like OXY is showing a great chart with consistent price action.
Fundamentally, it has had great earnings reports in the past year.
It rates an 8/8 on the Minervini Trend scale showing strength and duration of trend
as very high. Vermillon Energy has been strong in the general market downturn.
I see this as a Swing long setup with a good expectant reward...
