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...
-- PROBABLY PLAYING:
AMD (38/71/15.4%) announces on Tuesday after market close.
BA (25/71/15.1%) announces Wednesday before market open.
Pictured here is an AMD August 21st delta neutral 60/85 short strangle paying 2.93 as of Friday close.
The BA August 21st 150/210 was paying 7.23 at the mid.
Naturally, strikes may need adjustment running into...
Coming into a resistance area I expect to hold (42.50-43.70) for a pullback. Could be a large one in August which is also when seasonality flips
$USO $XLE $XOM $CVX $XOP $GUSH $DRIP $SPY #Oil #CrudeOil #OOTT 🛢️
This is a continuation of PRS LIVE TESTING #12 (OIL GOING TO 33). We have 3 short entries under $41. ANY MOVE ABOVE 41 PRIOR TO 7/29 IS A STRONG SHORT.
Oil is about 7-10 days out from moving to 36 in 2-3 weeks. Originally, PRS called for 33. However, with respect to manipulated markets, PRS believes its smart to close the short at 36. The blue route is...
A bunch of earnings next week, particularly in the financials sector:
C (40/58/14.1%): Tuesday before market open.
DAL (50/95/23.0%): Tuesday before market open.
JPM (38/49/12.1%): Tuesday before market open.
WFC (58/63/15.4%): Tuesday before market open.
GS (31/48/11.7%): Wednesday before market open.
EBAY (71/56/13.4%): Wednesday before market...
Next week's earnings announcements are light, with options liquid underlying to play for volatility contract even lighter.
BBBY (52/119/18.8%*) announces on Wednesday after market close, so look to put on a play before the end of Wednesday's session. Pictured here is a July 17th (12 days) 11 short straddle, paying 2.03 as of Friday close, 18.8% of...
So oil is not done going up. I think it will try at least once to to tag 43.
I would start shorting at 42.70. If it swings back up, wait for 44.50 ish and double down. IF i wasn't so busy with gold and bitcoin. I would MASSIVELY SHORT oil in a few weeks. As always will update with time.
Oil is full of surprises so preparation is key. Demand at risk however, bankruptcies/production cuts, among other things are pushing prices up.
Keeping an eye on a potential wedge forming up to $43.30 (the 50 Week EMA).
If this is confirmed and it breaks up, then the fib extensions are valid as well as a possible squeeze up to the 200 Week EMA.
Failure at this...
MU (36/64/11.7%) announces earnings on Monday after the close. Pictured here is a 19 delta short strangle in the July expiry, paying 1.55.
FDX (46/59/11.4%) announces Tuesday after the close, with the 20 delta July 17th 115/147 paying 4.56.
EXCHANGE-TRADED FUNDS ORDERED BY RANK AND SCREENED FOR 30-DAY >35%:
XOP Oil & Gas Production long term down trend was confirmed on 06-12-2020. This technical analysis was conducted using Swing•Genie Cycles on a 2-day chart.
Price is currently under several down gaps (red fill), Fibonacci 0.5, and 200 SMA (blue falling line), which will act as resistance to price moving higher. Support is provided by Fibonacci 0.382, Volume Point...
Listen! OIL MASS DEFLATION -$30 per barrel. OIL MASS SLOW PRODUCTION!. OIL DEMAND INCREASE! OIL MASS INFLATION+WAR+CHAOS CANT KEEP UP WITH DEMAND! ECONOMICS 101. Don't listen to the fake pros they know nothing! BLACK HORSE RIDES! LOW SUPPLIES EVERYWHERE FOOD SHORTAGES! LOCUSTS!