SOrry, reprint - this one much more logical. I had added things in and not checked properly before.
VOila. New bullflag forming atop old one. Prob guided down under that gradient and squeeze vs old bullflag lid.
HOpe you aren't a hodler!!!
Looks like she's forming a bullflag there. I've taken historical the gradients from the p [rior consolidations. They are all consistent so far. The pitch of the final flag remains to be seen, but likely the light green again. There is a nice ledge there for a waistline and the VWAPs and RSI bands are looking good.
Plenty of down left though.
Black Gold finally broke out from the 3 month cup handle pattern as mentioned last week! Although weekly chart was showing bearish, it was a bullish flag because the lows never broke. This week the momentum continues upward possibly in a big way. Extremely Bullish! Once it breaks 56.75, 59 will be the next target. XOM, SLB, NOV are yummy plays.
Reasons for likely recovery :
Fundamental Analysis
- NOV suffered under major commerce COVID restrictions' impact on petro use.
- NOV is poised to recover with the opening of commerce. Petro sector is critical for both recovery and any developments in the ALT energy sectors.
- NOV supplies the equipment to the petro market, insulating it somewhat from the...
NOV could be poised to benefit from increasing investment in oil capacity expansion as Crude Oil prices lift after low capital investment during the pandemic. Reopening means higher energy demands. NOV has been mostly left behind. Breakout possible above $16.
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Long 100 $NOV
Short 35 $OKE
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Statistical Arbitrage Opportunities Delivered to Your Inbox.
QuantChart. io
Long 100 $NOV
Short 35 $OKE
*Yar-den - S&P 500 OIL & GAS EQUIPMENT & SERVICES - Bearish
*Neg-Earnings (-5.44/5999.25%)
*Long Con - Over extended
*Short Con - Below Average
*E-MINI S&P ENERGY INDEX - Bearish
NOV is approaching our first resistance at 30.16 (horizontal pullback resistance, 23.6% Fibonacci retracement) where a strong drop might occur below this level pushing price down to our major support at 24.17 (horizontal swing low support).
RSI (89) is also seeing a bearish exit where we might see a corresponding drop in price.
NOV is approaching our first resistance at 30.16 (horizontal pullback resistance, 23.6% fiboancci retracement) where a strong drop might occur below this level pushing price down to our major support at 24.17 (horizontal swing low support).
RSI (89) is seeing a bearish exit and we might see a corresponding drop in price.
Hello!
Dudley and his governor friend George are out to speak in less than 25 minutes and the US market and EURUSD is not making a noise since. At least on Minute 1 chart I don't see anything that catches my eye, but we should see a fine spike on M30 if it reaches 1.0600 (roughly) and take advantage of that. I'll show you how and I will be updating this idea as...
Hi! RSI and Bollinger just confirmed and entered the deadzone, while those Government guys should have some impact on EURUSD to drive it lower. I see a very good scalping opportunity. I will update this idea as time goes by, thank you!
