Oil tracks yields (or vice-versa)Looking at this chart...
Where do you think oil & long term yields are going?
Trade ideas
Bullish pattern morphing into existence for OilWhat a beautifully bullish pattern morphing into existence for crude oil !!!
With price being contained for over 3 years below that continuation breakout line, the 12 quarter moving average is squeezing, putting upwards pressure.
Oh boy, this could explode anytime soon ;-)
12 month oil=> 12 month crude oil breaking out on weekly chart <=
The mainstream media head line news will flood us once the price is close to its targets... late, like usual.
#CrudeOil #Inflation #Commodities #Gold #Silver
crude oilAnother VERY BULLISH setup for #CrudeOil ...
early breakout line
continuation breakout line
LONG, BULLISHUSL could hit $18.50 to fill in the gap. Be careful on news regarding OPEC.
Support might be tapped a few times and then price should go up from here. Move stop losses in profit and keep a tight stop loss.
USL Long, option trade with big stop bufferUSL Long, option trade with big stop buffer
Try to accumulate oil long position at bottom in next two months.
Stock Entry: Below 10.4
Stop: 9.6 (down to new low)
Target1: 14.2; risk/reward=1:3
Target2: 19; risk/reward=1:18
In option trade, I bought Oct Call Butterfly C11/16/21 (Delta 0.15), limit 0.9;
Sell P7 (Delta -0.18) Limit 0.9;
Total simulate long 33 shares stock for free.
None stop, Willing to be assigned at $7, if there is another 33% down from current price.
This is a trading school homework. I need 6 months to practice trading plan.
If you like it, thank you for your support. Please use SIM/Demo account to try it, until my trading plans get high winning rate.
Important Note:
Yesterday, I created USO trading plan. I added following comment:
USO long term target is "0". It is only good for short term trading. If it sounds strange, please google the reason.
Since I knew that USO is not good for long term up direction, I will Long USL to long Oil, and short USO to short Oil. 4/28/2020, USO shares will be merged from 8 to 1.
The only problem in USL is its options are not actively traded as USO. I have to pay $0.1 more than the mid price to get order filled.
#USL #short #stockUSL has formed a small double top on the daily.Indicators pointing down. I see two possible targets, both with decent RRR.
