$BP looks interesting here. Could try an intraday trade with long positions on the re-test of 31.93 resistance and then capture a run to 33.78 (1.618fib ext.) on $BP or try short positions below 30.07 for a test of 28.93 4h support.
The PEAD projected a Bearish outlook for $BP after a Positive Under reaction following its earnings release placing the stock in drift A with an expected accuracy of 50%.
Price forecast in white
This is on the weekly chart so a trade isn't to be executed
this is just an analysis of the chart on a larger scale
price forecast on this weekly chart is in white
We are trying to hold a demand line of a rising wedge pattern but are showing clear Hidden Bearish Divergence on the Daily and are likely to rollover rather than hold and upon breaking down one would expect it to come down to fill the gap below us at around $15.50
BP p.l.c. engages in the energy business worldwide. It operates through Gas & Low Carbon Energy, Oil Production & Operations, Customers & Products, and Rosneft segments. It produces and trades in natural gas; offers biofuels; operates onshore and offshore wind power, and solar power generating facilities; and provides de-carbonization solutions and services, such...
The PEAD projected a Neutral outlook for $BP after a Negative over reaction following its earnings release placing the stock in drift C with an expected accuracy of 71.43%.
Is BP set to cash in on the Russian Gas Premium? With a ban on Russian Oil & Gas, will BP break out & reward holders with gains? Nothing real technical here folks just looking for a reversal of the recent downtrend since the invasion of Ukraine.
BP is still a macro energy play despite the weeks long sell off. For all you options traders out there looking out for a bottom in commodities markets this might be it. DISCLAIMER No bags, everything was sold two weeks ago, please look at macro & geo-political events before making ANY decisions.
Swing-Trade analysis (1d chart)
SMMA-Analysis & Support and Resistance:
- The 100er SMMA (yellow) seems to be used as a major support line since the middle of August 2021.
- Golden Cross (bullish breakout pattern): We can see how the 50 SMMA (white) cut the 200 SMMA (red) in the end of October 2021. If the 100er SMMA cuts the 200er before the 8th of February...
Percentage Scale of US Crude Oil against BP PLC. The percentage change in oil price per barrel compared with the percentage change in BP PLC's share price
The PEAD projected a Bullish outlook for $BP after a Negative Under reaction following its earnings release placing the stock in drift D.
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