I understand to be able to trade like the best you must literally think like the best and if you have to, try to remember how they would have gone about utilizing the skills we learn to better advance their own trading skills. thus some people hold trades longer cause they know more. so just act like those people and ask a few questions here and there. but...
. While the price is below the resistance 45.00, beginning of downtrend is expected.
. We make sure when the support at 36.95 breaks.
. If the resistance at 45.00 is broken, the short-term forecast -beginning of downtrend- will be invalid.
. There is a divergence in RSI and price between the peak at 43.315 on 2020-06-08...
Now is a good time for those waiting on COVID oil corrections: LBRT fell below 6 per share last week, and it provided a GOLDEN ENTRY POINT for the Long now en progress. Oil is 43+ per bar. and most oil commodity traders are LONG on $USOIL -- the same logic applies to Liberty Oilfields. Expect the real gains to follow the rest of the week with oil starting out...
USOIL has broken a daily support (blue rectangle) and now the price is retesting it.
According to Plancton's strategy, we can set a nice order
Follow the Shrimp 🦐
Here is the Plancton0618 technical analysis, please comment below if you have any question.
The ENTRY in the market will be taken only if the condition of Plancton0618 strategy will trigger.
USOIL began the day spiking over 43/bar and showing over 4% growth. It has since come back to earth, with earth being the top-Fib placement. The short already should have occurred - It probably will stabilize around the 42 mark -- then it might be a while before recapturing steam en route to 45/bar. Of course, this is typically a stronger quarter (the 3rd and 4th)...
Here is a road map for this contract's price development until its expiry. As the futures curve is in contango, the CLU2020, which is now the new front-month contract, is yet to test the supply around the 100% up area from its YTD low. Furthermore, 50% of the YTD range is also around the area where this contract is currently trading. These factors are expected to...
We now have a pretty clear RSI daily divergence in US oil (futures chart shown here). With the daily daily 200MA and resistance above and the rising wedge reversal pattern this looks like a good sell.
Take profits at break of rising wedge pattern.
While the price is below the resistance 42.90, beginning of downtrend is expected.
We make sure when the support at 30.85 breaks.
If the resistance at 42.90 is broken, the short-term forecast -beginning of downtrend- will be invalid.
There is a divergence in RSI and price between the peak at 40.565 on 2020-06-08 and the...
FIB retracement shows indications of a final-long on $HAL w/ the current entry point still providing strong value. On a great day for the market overall, Halliburton is on the wave of corrections again:
USOIL is pushing towards 41/bar and could hit 42+ by the conclusion of the trading week: Again, this is an "all systems go" for the same $HAL long that has been...