$DRIP Target 31.02 for 61.73% Or next add level is at 7.34 This is another insane setup that you should only trade at your own risk... it might take a little time to play out. Ride or Die, y'all... be careful with this one as trading contracts is a little different from regular stocks. I am not your financial advisor. Watch my setups first before you...
Moving averages and volume in and of themselves can tell an interesting story. Is a Wave 3 under way in a new bull? $DRIP $GUSH $XLE $CL_F $USO $NG_F $UNG $BOIL #Trading #ElliottWave #CrudeOil #OOTT 🛢️
"Golden Cross" of SMA 100 intersecting the SMA 111 acts contrarily to standard Golden Cross implications and could signal a correction as seen in January. As the relationship decreases in price, Crude down, DRIP up. Looks like it might break down vs SMA 350 (gold colored line) as well. An answer should be given within the next week given prior timelines.
Im buying DRIP here as a long trade. It's really a short because its an inverse etf. It looks good the buy was at $6.04
With the OIL cycle coming to an end, 50 + days, I am watching DRIP as a possible counter trade. If the price can get over the 50 and break the trend line this could be a good runner. Maybe we get a repeat of March? You could buy here with a stop below the current price. The only draw back is that the OIL producers may not trade directly with OIL.
if breaks the support, i will add more. its not going below much from here. else will ride current long position. i will vote for long here
If holds below can't rule out a trip down to ~17 ...
Needs to bounce here soon otherwise may go straight to 17-18 area
The price of GUSH is finally moving sideways instead of down. The price is being supported by the lower long term trend line. Very high selling volume, maybe reaching an end. I still don't have a buy signal for GUSH yet but its close. What interests me is the BUY signal I got in USOIL . If OIL moves higher, and it appears as if it is, can GUSH not be far behind?
Loses 50.51-51.00 support area and recession closer than many think
If you have been watching oil and the energy sector you've seen quite a decline lately. It could be that the energy sector bottomed 2 days ago. Look at that lower trend line. touched several times and very nice gains after ward. I would be willing to bet the bottom is in for GUSH. I usually like to wait to see the price regain the 10 sma and get above the...
No harmonic pattern, Trendline approach, Oversold.