Hello, My Thoughts For You We are on wave 5 now and the common length for wave 5 is equal to wave 1 or 1.618% of wave 4. Looking at the chart I decided to go with the wave 4 measured move because wave 1 equal measurement would bring wave 5 to be 29.56 which would become a truncated 5th wave and I don't see that happening given the upward pressure of the RSI...
Seguimiento diario de UCO de forma totalmente amateur, planteando canales y usando los WMA de 9 50 y 200
Hello friends, This was a strange and difficult chart to do today. There is no real history except for the huge dump we see on the weekly chart that starts at the top and ends right where wave 1 begins. I am not certain how well this will turn out but here you have my details on the chart. Good Luck Cheers!
With UCO now holding longer-term contracts, I feel it won't be as sensitive to strong sell-offs of the June Contract. The question is really do we have one more flush or is this it? Keep in mind because they hold long-term contracts, the upside will be limited until they change back to holding front-months again. In other words, Crude could rip higher and...
Expect another sell-off by Mid-May toward single-digits
In 2018, oil price dropped on talk of increased global supply, slowdown in economic growth and decreased again in 2019 due to COVID-19. If the States prepare to re-opens businesses, prices could go up to 50% - 65% from $17 to $35 and then, slightly fall to 20% if the number infection people are still increasing.
possible recovery pattern based on looking at past crashes; (understand fundamentals are different to previous crashes)
I would put a stoploss around 1.70 Long positions should be put from 187-175. Like and Follow the post, for long long term targets.
Since, WTI futures are time bound and we can't hold it for longer term. UCO looks great for long term hold. UCO once traded at $25 and now its a bargain at $1.70. it's for a swing trade if you can't afford crude oil lots. Vinny
UCO there's no working capital due to impairment