1 MORE SMALL DOWN WEEK AND THEN BIG SPIKE UP
Directional Bias: Long to 41.5+ Price Target: ERX Good Entry: 37.7-38.3 Risk/Reward: $1 cents max stop/$2.5+ reward
ascending triangle target $288
$DRIP Overbought at Resistance - 7.55 level looking like strong resistance and expecting it to hold.
Personally, I'm leaning towards a trend breakdown because of the RSI has lost it's trend and broken below it. On the other hand, That symmetrical triangle is pretty attractive alternative option to watch.
It would appear that the intermediate term trend is going through an ABC correction. Supply Zone exists in the $53.50-$57 range Long Term Price Support exists at $54 50% Fibonacci retracement exists at $54 Measured Move exists at $55 Channel Resistance exists at $62 Long(er) Term Price Resistance exists at $63 Short Term trend bearish I'll go long when I...
I like DRIP for a swing trade here
DRIP in buy zone based on XOP chart
If you want to know how XOP, GUSH and DRIP are trending, just take a look at the crude oil futures. XOP responds to CLQ2017 throughout the day.
USOIL, looks to be starting final leg down. I can see a three drive to a bottom trade, with a low near $42. Enter short with DWT, DRIP or similar.
Oil has been falling for about two months and I found a good opportunity to buy into the trend on a slight reversal on the 13th
ALL IS ON CHART WAIT FOR SAFE PRICE ACTION AND POSSIBLE NECKLINE TEST. OIL ISN'T HAPPY WITH DOLLAR MOVEMENTS. SO IT THE DOLLAR TAKES A BREAK FROM IT'S PUSH, OIL MIGHT GET A BOOST.
Ok this is a quick summary of today's trade.. I will update today and over weekend and include Timecycle Chart which this trade is linked to.. This is my daily tracking chart. We added 20% Short @ 51.28 , will add more if we fail the trend again or collapses below 50.7x. Manuel stops about 53. Trade safe! Make money
SPX and R2K are stretched, and oil has ripped. Buying DRIP tomorrow
Sorry, quick chart, shows my mess but dark green is fib if PA/RSI show retrace in action.
Called for a rebound in August, but this is looking very toppy to me here. Neg divergence on multiple time frames. $DRIP $GUSH