Some short targets for the few remaining bears. Keep in mind the options skew bearish since there is very large open interest for in-the-money call options. My opinion is that we will see a low around 63-64 in the next week or two.
Not sure what this is about but after the 66.66 peak earlier this year the dow fell by 666 points. Since then local highs in the crude have occurred at 66.55 and recently today 66.44.
Well, contrary to my reading earlier, crude did not have a meaningful retracement, and they instead decided to send crude prices lower, finishing out the week at the low. Looking at the chart, the outlook on crude is downward. Notice how earlier in the week they pushed prices higher after hitting the 50% retracement from the low on 02/09 and the high on 03/25, ...
This is an update on the bearish crude thesis running through April. I'm thinking here that we could continue the pattern of the past week where the price is run down into a partial extension and then brought back up by two fib level, only to sold down to the next fib. extension level. This would imply the price could be brought up to about 65.08, then sold down ...
They seem to be moving in unison of late since November. Although the deviation from the avg has been much larger and volatile for SPX500 compared to USOIL
Another canadian energy company setting up for a potential trend. Broke the recent few month downtrend. Once the price gets above 1.40 this could be a very strong trend.
OIL breaking out on multiple time frames. Monthly looks to be suggesting a run to 78-80 level. Would be a great set up for Saudi ARAMCO IPO..... since they made production cuts to bump the price....
13 cl direction s Feb 16 2018 entry price 61.58 comments open new short
also will do a long put may 53 for a .59 debit
and short a 68 call for a .45 credit
Hi guys. Nobody likes two sided charts but here it is. I'm short since yesterday and still keeping my original target per my previous USOIL post. These two scenarios are based on the open interest for mid March. Question everything everywhere and every time. Imvho. Have a nice day.
![USO: $USO $QQQ $SPY Oil Driving Markets Up Further Here [short-term]](https://s3.tradingview.com/b/bLSelA5h_mid.png "$USO $QQQ $SPY Oil Driving Markets Up Further Here [short-term]")
