XOM had a beautiful Friday. The rev strat setup was lovely and it pushed immediately. Energy has been doing well, so I think it's still on watch. Possible corrective activity, or just a continuous push. If you can catch the bounce, trade it back into FTFC. Can play this both ways or just watch for the move.
Here is my reasoning behind buying these calls. Trump wins oil companies will boom. Covid-19 daily new cases are on the last wave with the elliot count. Daily horizontal support. TD13 on the weekly. A lot of volume and momentum setups on the table. Risk reward ratio is juicy. Lets rock this thing!
Key things to take away from this: Fed cut rates to 0%. Trump's positive talk with interest rate cut on Sunday was not enough to pump the stocks. TD9 is still giving a bear market state. Day traders can sell any selling opportunities if they think the bear is on. Take it easy team. See you on the next one. ~Bo Bugra
Consistent growth, profitable, SUPER cheap relative to broad valuations! A rising oil price over the coming years will lead to earnings estimate increases!
... to finish after I was rudely cut off, options returns are a bell curve based on duration, you never want to hold them until expiry unless you are planning on taking delivery! (*Note to tradingview - performance should increase for paid subscriptions)
We can see slight higher highs from here, however, I expect to see a reversal somewhere between the current price and $61.60
Commodities are typically the last asset to peak during a cycle. We typically interest rates peak first, a couple of months later that followed by equities and a couple of months after equities we see commodities peak. Commodities such as crude oil, are part of the contraction phase in the cycle, the higher the price rises it begins to acts as a tax on consumers...
65% of crude oil demand is derived from gasoline, with economic conditions weakening we are now switching from supply side issues to potentially demand-side issues. Watch for lower levels of demand for Crude over the coming weeks.
Demand remains consistent at 1.5% YoY, the decline was caused entirely by supply-side shocks and record production. From the lows, late last year OPEC has talked up production cuts which would ultimately be the catalyst to rally higher. This is a bullish market, shorting counter-trend is risky so make sure you are managing the risk of the position BEFORE you...
Markets are a DISCOUNTING MECHANISM they will discount today what they expect at some point in the future and if that expectation does not materialize the price will correct lower. Over the past few months, OPEC has been quite open about production cuts which would be the perfect recipe to push markets higher. Huge overproduction while demand remained consistent...
Demand is trending at a steady 1.5% YoY, the decline was entirely driven by supply-side shocks. The OPEC rhetoric to cut production is favorable for price big picture but the chart is suggesting lower first into an ideal target of $48.
Hi guys, thank you for the support! I will have this analysis out each weekend as well as daily updates throughout the week, if you guys like what I'm doing hit the "follow" button and you will get a notification each time I post a video or chart! Have a great day everyone!
Hi guys, thank you for the support! I will have this analysis out each weekend as well as daily updates throughout the week, if you guys like what I'm doing hit the "follow" button and you will get a notification each time I post a video or chart! Have a great day everyone!
Hi guys, thank you for the support! I will have this analysis out each weekend as well as daily updates throughout the week, if you guys like what I'm doing hit the "follow" button and you will get a notification each time I post a video or chart! Have a great day everyone!
Hi guys, thank you for the support! I will have this analysis out each weekend as well as daily updates throughout the week, if you guys like what I'm doing hit the "follow" button and you will get a notification each time I post a video or chart! Have a great day everyone!
Hi guys, thank you for the support! I will have this analysis out each weekend as well as daily updates throughout the week, if you guys like what I'm doing hit the "follow" button and you will get a notification each time I post a video or chart! Have a great day everyone!
Looking like the dollar crossing the daily trend line is a failed rally. More down side to come in the very very near future.