Exxon posts lighter than expected Q3 loss, slashes 2021 capex plan - seekingalpha.com Was thinking this might drop below $30 on this ER but its been holding up. Looking for a swing back up near $34-$38 range.
Consolidated into triangle in August/September, which has broken down. Failed to get a golden cross. Possible run towards 26-28 area which is major area $USO $XLE $XOM $CVX $XOP $GUSH $DRIP $SPY #Oil #CrudeOil #OOTT 🛢️
We have a nice consolidation zone in the D timeframe, Risk Reward Ratio 1:5. On the fundamental side if Biden Wins the election we will most likely have a nice fall of oil prices and oil companies.
When a divergence of this magnitude occurs, one of them has to be right... If history repeats and with the recession and pandemic, ... my bet is on the industry. Disclaimer: The above is not an investment advice. It is merely an opinion and I share it for your entertainment only. Do your own due diligence and above all, trade safely and stay safe!
Oil prices should offer some nice opportunities to create some green days in the near future. Calling the bottom is difficult however, it should be a fairly safe trade once it closes above the macro fib level, 50/200 Day EMA, and this down trend line. Clearing these levels could mean that Bill Gates will have a vaccine for us soon or the Dollar Index is falling...
I see downside and weakness here. Price has tried to break but has been beaten back. I am short. 2:1 RR - 1% risked. Notice how price has settled at a level of 61.8% Fib.. significant.
Buy and Sell points for short term pops and dips. 50 and 200 EMA as guide.
Yes, still bullish up trending, but honestly, look at the technicals and it’s like crazy... Cannot keep this weak rally up for too much longer. MACD is so bearishly divergent and recent rally is weak Th ebottom panel is the net non-commercial interest and it has been steadily waning as price edge higher. I thought it was going to give way earlier but everything...
Oil prices are coiling up for a move which will eventually head towards to the mid $60s for the following reasons: - Bankruptcies - DXY destruction - Demand bottoming - Chaos in the Middle East at some point Pit stops along the way are marked by the fib extension from the first impulsive move - 0.5 and 0.618 being the most significant. The simplest strategy is to...
In a market where everything goes up, and ignoring the fact that we are no better than when the year started... something was gonna give. It is Crude Oil that appears to cave in first... The daily Crude Oil futures CL1! clearly shows a waning momentum to push oil prices just about 42. And this waning momentum was under a technical bearish divergence of the MACD,...
Gap fill straight into major weekly resistance for both $CL and $BR. Good place for a significant retrace.
For most of my investing life, I have been a part of the upwards bull run spanning nearly a decade. Growth stocks outperformed cyclical and value, interest rates were kept low, and oil was at favorable prices. However, this year I experienced two unprecedented events: The Pandemic and negative oil prices. Both the pandemic and negative oil prices come hand in...
Commodities are rallying today as the Dollar index loses value and right on cue, oil has hit my target at $43 (the 50 week EMA) and could pullback soon. I've closed my positions for a $1,237.50 gain (entry/exit linked below) and am looking to buy dips moving forward. I believe oil is heading higher by the end of the year and the fib extensions should help map...
Crude oil is running out of steam to the upside. It has closed the gap from the last decline and presents a good RR short here.
Oil Projections Week of 08022020
Crude Oil sold off today at first however, traders decisively bid the price back up above the 200 day EMA. Note: The light blue 50 EMA on this 4hr chart is equivalent to the 200 day EMA This bullish price action tells me that the 200 day EMA is now the launch pad for traders to take this to the next level up. Most likely that would be the 50 week EMA around...