GUSH (2x BULL Oil/Gas ETF) Macro events are evident and rising that would suggest a further rise in gas/oil prices. Looking at the chart GUSH appears to be consolidating nicely headed to the $107.70 s/t support area. If the $107.70 is broken I would be looking for a bounce from the $103.66 area. This could be a great long term play but I would recommend taking...
A lot happening this week with the fed meeting and someone with power somewhere running their mouth about what "ought to be". This is a relatively high risk trade long or short. To me inflation will prevail and we will likely see speculators continue to drive up commodity prices.
someone say something about oil?
4h squeeze happening right now as we speak,
this consolidation is going to tighten until it fires off in the next few days
oil hasn't ran in some time, so when it does, i expect an expanded 3rd for this move.
has to break through a few levels before it gets there, but i reckon it's going to happen fast.
gush calls near end of...
While $GUSH continues to actively fail its previous trade channel, this again represents a solid LONG to 91.
This could simply be a "completion of the square" w/in its previous 5-wave ascending channel.
It is hopefully just that: Profit Yield still hovers near 20-25% ROI on the position swapping (a long play on $GUSH).
BLOOD OR OIL
The general thought is this is the fifth wave of a corrective (Upward trending) sequence. Ideally, $GUSH returns to 91/s as a target w/ again (something I hate) an undefined time range: Play it w/ a position swapping; I advise skipping any additional options contracts you may otherwise have tacked on. Thrive.
FUNDAMENTALLY: Oil being a commodity is a safe play during any bear market or market crash. The talk about a future market crash is inescapable. Post COVID we saw a REACTION, not a “crash” I believe we will now see a true market crash post COVID.
Alternatively the world is looking to go green, stretching their arms to reach for greener projects. However, it’s...
Hidden Bullish Divergence on daily MACD & RSI could still be in play but GUSH would badly need to pivot here and now. A lot of confluence (Fib. level and measure move) around $109 making it the perfect target for longs. Right now it looks very much like a coin flip but recent technical breakout on crude oil gives the industry some hope. Cautious traders would look...
GUSH is really beaten down recently and since it's getting shorted heavily I expect a small reaction soon. This would complete the the triangle before another leg down. daily RSI also at down sloping support. Entry $61.90, Target: $67.99. Quick trade that should play out this week. Stop loss below $60.
Despite great TA setup with triple bullish divergence on both oscillators and bounce on the trendline, the chart now looks exceptionally bad as we broke below the trendline and continue building negative momo. Could be a buy opportunity around $40 by end of May if $60 doesn't hold next week.
Very strong Triple Bullish Divergence on the daily timescale, strong reversal after multi-week downtrend right at the well-established demand line. Oil prices could skyrocket sure to ongoing Suez Canal blockage. Safe bet.
Keep in mind that leveraged ETFs can suffer from decay over long periods of time so holding this asset long-term (months, years) increases your...
I'm still following the direction of AMEX:GUSH . Given today's initial drop back into the range I was following, I am wondering if this is a new price level for consideration.
I am still long oil, but there may be external factors that are worth considering as well. Of course, beyond April, I do not expect to remain as confident is upward price movement in...