The oil markets have been something of a puzzle to everyone on account of the fact that they range sideways for long periods of time, move a little bit, decapitate one side of the market, and then range again. One thing I've been sure of is that after doing $120 post-Ukraine War, and after WTI literally hitting $0.00 ( $-40 settlements lol) this certainly was not...
UCO popped in April and then dropped into a consolidation in May and June where it set up a base shown by the POC line on the volume profile. Once over the POC on July 6th on the daily chart coinciding with a golden cross on the HMA 56/210 combination the bull trend began. The dual time frame RS lines in the 60s suggest more to come. I am trading UCO and...
IMPP is rising from its lows of July after falling from a triple top in June at 3.8 which is the target for a long trade. Price is now above the POC line of an intermediate term volume profile having crossed the mean VWAP line anchored at the share split (purple and thick black lines respectively). Price bounced off the first negative standard deviation line...
Every time the price of oil goes up, there's a group of bulls that are sure they're catching the train to $150. I mean, I do think oil will go to $150, and there has to be a bottom that comes first, so there's that. But with fossil fuels and energy producers it seems the pumps are rare, the consolidations are frequent, and the dumps are more common. In two...
🔹Breakout Falling Trend Ceiling in medium long term. 🔹Once breakout resistance 87.4 be POSITIVE signal. 🔹Short-term momentum is POSITIVE with RSI above 70. Chart Pattern; 🔹DT - Double Top | BEARISH | 🔴 🔹DB - Double Bottom | BULLISH | 🟢 🔹HNS - Head & Shoulder | BEARISH | 🔴 🔹REC - Rectangle | 🔵 🔹iHNS - inverse head & Shoulder | BULLISH | 🟢 Verify it first and...
We've been long on OXY since the 56-57 support. Already up nicely but I think this one can run more. You can always DM me for anything trading related !!
Im going to try and post this a THIRD time now, as you can see from the first post on June 26th & June 28th. Apparently you cant utilize the Twitter post feature on charts because its solicitation or advertisement, even though im just using the timestamps to show I actually called it publicly like I am stating here. ...
COP has had a brief trend up in the past three and a half trading days of about 8%. An analysis of the 30 minute chart suggests this could reverse. Firstly, the HA candles are now narrow- ranged and more or less Dojis. The MTF RSI indicator of Chris Moody shows dropping RSI on the 5 minute TF while it is hold up at 100 on the 60 minute TF. The former is...
I've had a number of successful calls on crude oil, which you can find in my post history. In those calls, I had always been bearish on oil, anticipating a run to a 4-handle. However, I reassessed my prior assumptions when the MMs took out the Low Of The Year in quick order to start May. I haven't been particularly sure in the time that has passed, but between...
HAL being part of the energy/ oil sector has been down lately but after all in keeping with the concept of buying low and selling high, it may be at a buying point. Here in the 4H chart, I have set up two long term anchored VWAPs one at the swing pivot high a year ago and another at a swing pivot low last October. As a result the chart has zones between the...
Just over 6 months ago, OXY was flagged to technically not do the expected rally as it broke down of the H&S shoulder. Many had bought in following the reported Berkshire's purchases of OXY , BUT technicals was telling of another type of scenario. Watching the breakdown was rather painful as it stretched over the last 6 months, with a recovery attempt that failed...
Mr. Buffet keeps buying NYSE:OXY but a closes below the weekly horizontal line and the next support is the 200 weekly moving average.
Can NYSE:OXY take out both pivots on the 2 Day chart? Would be a nice inside and Up as per #TheStrat
USOUSD today on the 15-minute chart dropped on a downtrend outside the Bollinger (lower) Band (49, ohlc,2) hit a Doji candle and then started the upward retracement. The RSI indicator shows relative strength hitting a bottom and bouncing up. RSI is about to go over 50. Price is currently below the high volume area with the POC line aligned with the basis...
ERX is a leveraged ETF tracking the energy sector. On the 4H chart it has been in a downtrend since mid-March. IT dropped to the bottom of the high volume area on the long term profile as well as the lowermost VWAP band. Firday May 12th marked the reversal with buying volume replacing selling volume and then a significant rise in price in the past week. ...
as you can see, the major structure is sideway price trap the support level price then made inverse head and shoulder breakout and retest which complete falling wedge pattern and ready to go up oil price has positive impact from supply side , oil future also show bullish momentum.
It appears that there has been a breakout of resistance at the level of 61.88 in the price of the stock of OXY. This breakout could potentially lead to a continuation of the upward trend in the price, with a possible target of 66.46. On the downside, there is a support level at 60.47, which could act as a barrier to further declines in the price. Overall, it...
The oil price also rose nearly $2 under the stimulus of data, reaching a high near $77. On the 30-minute chart, oil underwent a wave of pullback after consolidating near 76.6, and its current position is the previous consolidation level, which has some resistance but not strong. The short-term strong resistance should be around 77.4. From a technical...