Obviously my previous predictions on Oil were wrong, however, it is hard to forecast a vicious virus from the far East. Now, the doomsdayers are back, touting their long bond positions with gold, saying "I told you so." Those positions have worked, and oil has tanked. To be clear, I don't dislike bonds or gold here, but Oil is ripe for a rebound. We are deeply...
We are now touching a long term (march 2020) trend line that gives us an upside to this trade. As oil continues to climb above 55 we see this staying in support. But be careful of a pullback to 33 to retest to the 50 MA
NYMEX:CL1! is trading now in long-term supply area ( resistance). After estabilished triple top price pattern we could see trading NYMEX:CL1! in falling channel.On hourly timeframe its clear downtrend and price forming hanging man pattern. After breakdown diagonal trendline price is testing it, its perfect setup to short entry. here is data for my...
Hi mates, i posting another of my todays trades. Its based od triple top on in my another idea posted few days ago. Its in realated. here is data for my swingtrade: ------------------------Trade setup --------------------------- Entry: 9.98 Stop Loss: 9,82 Profit target: 10,62 Time stop: 3...
Hi guys i sharing one of my today swing trades. Crude is trading now in longterm supply zone in extended uptrend and formed triple top pattern. Because US Dollar lifting up i will make more pressure to oil. I trading this by ETF: AMEX:SCO
Due to the fall of the May contract into negative territory, oil can hardly be counted superordinate, as this is not provided in the EWT. Therefore, I have here only the last movement counters. Here it is not yet quite clear whether the final yellow (z) only the red w (here Alt. w) was completed or whether it was already completed. The 0.618 minimum target was...
Idea is laid out here: -broke trendline -retested -unconfirmed double top -divergence showing in heatmap 2:1RR 1% risk
Prices for Crude Oil are down -20% from last year which means the bearish outlook is priced in. The bearish outlook is that the -16% drop in consumption outweighs the -7% drop in production plus the 4% increase in inventory stockpiles. Bulls want to know if demand has bottomed or not and since consumption tends to be highest in Jan-Feb, it might have further to...
If you like the idea, do not forget to support with a 👍 like and follow. Leave a comment that is helpful or encouraging. Let's master the markets together. Hi fellows, just one of my today daytrades: Nice entry point on bearish flag ------------------------Trade setup --------------------------- Entry: 48.07 Stop Loss: 48.22 Profit target: 47.60 Time stop: Exit...
If you like the idea, do not forget to support with a 👍 like and follow. Leave a comment that is helpful or encouraging. Let's master the markets together. Hi fellows, just one of my today swingrades: Crude oil forming head and shoulders pattern inside supply zone. Drop is very likely very near. ------------------------Trade setup...
Crude Oil chart is consolidating awaiting OPEC's decision to boost production by 500,000 B/d in February, with a total of 2 Billion B/d increase by April of 2021. Prices may dip to $45 level. Economic recovery from COVID-19 is in the cards with expectations of higher demand coming in the spring and into H2 of 2021. Currently, Crude Oil prices are holding grounds,...
Looking to purchase Oil/energy equities, looks like USO has a slight negative bias and might break down from ascending wedge. Looking to purchase more oil/energy on a dip. I can see 43-44 on a correction. 100 EMA near 44 should cap losses, unless we have a news catalyst. Exxon and other energy names have moved up hard over the last few weeks, might be time for a...
XOM is an oil major, and the stock fell from 70$ to 30$ as a result of the corona-crisis That brought economic recession and a decrease in both demand and price of oil Later, XOM established a double bottom after retesting the lows of the pandemic And now it is surging. I think that buying XOM is a bet on the economic recovery Which will happen eventually...
Something inTERe$tiNg is unfolding and you heard it here first. It involves the dollar, gold, and... drum roll... ...the W r e c k i n g B a l l I'll save that one for last. Like any good thesis, it will evolve as new data comes in. For now let's look at some data. We can see from the Commitment of Traders report that both Asset Managers and Leveraged...
Don't get excited just yet. The only certainty in the oil game is it's not for the faint of heart and right now, the bears are getting crushed. Now that prices are gearing up it looks like it's time to make a new plan. Before I do let's recap the last one. Previously I had noticed a particular trendline that prices broke out of in early August. As that breakout...
Hello, Traders! OIL is approaching a confluence of strong resistance levels Even thought the Dollar is pretty weak The demand for oil is dubious Due to the recovery rate uncertainty And the possibility of new lockdowns Vaccine efficiency and deployment etc.. All of the above leads me to believe That bulls wont't be pushing above the confluence Therefore, I...
Hello, Traders! OIL is going UP on the fundamentals. Improved outlook on the economic Recovery rate Based on the vaccine successes Consequently improves outlook on oil demand Therefore we see a price increase. However, On the technical side We see a strong rising resistance ahead. That is my target short spot From which I expect oil to retest falling ...