Hello everybody, The Oil Future was in equilibrium but broken after that in point A, then it came back to the rectangle in point B and break it in point C. The break-in point C shows that for today, Oil will go down, in a decreasing trend. So, selling oil would be a good choice for today. But we should pay attention, if the stock break the resistance, it could...
Hello TV, looking to take a long here on PGSVY I had to zoom in b c the chart is so gappy but the next gap to fill is around .98c. With the dollar looking for support B4 the next bounce and WTI in the upper channel looking to test $43 this looks like a nice long scalp. The risk is pretty low with a SL around .24c if things go bad. You don't want to be in below...
Currently Oil is apexing and finding a resting spot over the consolidation zone below whilst hitting its head against resistance zone one (this is a zone of price and not a fixed price) I’ll leave the prior trendiness intact until weekly close as this market, although moved north, hasn’t given enough confidence. A push to R2 would show this. Oil has enough...
the gap down to $32 got filled, there is another gap down around $28 this could get filled as well. Just FYI
Support at $5.4 Was Broken Look Out for Next Support at $4.2 Possible Pullback Before Heading to $4.2
NAT - Broken downtrend with very high volume, Divergence on macd from last LL's. Above middle bollinger band. Breakout volume biggest ever monthly volume by a mile.
STNG - With oil prices so low and demand reduced due to corona virus there is excess oil needing to be stored so bullish on tankers for next 1-3 years. 2/3 last times it has broken middle bollinger band on the weekly chart it has done 100% moves, the other time 30%. Could be forming a nice curve bottom here. Volume increasing. Needs to get above 50MA and will turn...
Being in one of the industries being hit the hardest by this outbreak, I believe further downside movement is due after our triple top @18.5$, our rejection of the 100 MA coupled with the bearish divergence on the MACD may point us towards a retest of our local support range marked by the green box or even possibly creating new lower lows. We can also notice a...
Callon Petroleum Company is an oil bounce play. I am normally very against this but am short term bullish on this and NAT (tanker company) as far as oil is concerned. The setup is as follows: They have uniquely hedged themselves with oil swap contracts valued $50+ per barrel. Someone deserves a bonus. This is the highest valued swaps I have heard of...
First off, please don't take anything I say seriously or as financial advice. As always, this is on opinion basis. That being said, let me get into some of my key points. AM looks like it has started to break its previous resistance curve and is currently on a bullish run. The demand curve should start going up for oil, so it may have a long potential as well, but...
From February 2011 until November 2016, a major resistance trend line has kept RSI well below 50. In November 2016, there was a minor breakout, which ultimately failed and re-entered bearish territory. Since August of 2017, the RSI has held above this trend line until this month. After the RSI resistance breakout in late 2017, the trend line has been tested on 3...
I think it's obvious where the opportunity lies on this one. Still be careful. Gap up potiental.
Oil got, as they say, rekt yesterday. Our trend following system has spent most of 2020 warning of the downtrend. This chart is a good example of why an objective trend following system is more effective than a subjective knife catching approach. NOTE: We provide charts every day, so Comment, Like, and Follow to help us grow! --- STRATEGY USED: Momentum...
My scythe formation Weekly timeframe I will use the results of this scythe to determine the nature of the pattern