📊 Current Position:
Strategic Growth: NYSE:MRO is strategically positioning itself for growth in the energy sector.
LNG Sales Agreement: Initiatives like the LNG sales agreement with Glencore Energy UK enhance market positioning, particularly in European oil demand.
Safety and Environmental Excellence: MRO's commitment to safety and environmental excellence,...
The bullish triangle has been on going for the last 22 months. confirmation of a wave five will occur when market price goes beyond the pick of wave B. Also refer to my previous analysis attached.
The US Energy Department has announced open bids for oil contracts to replenish the
national strategic reserve which was depleted during the prior run up on global oil prices.
This is a sure sign that the feds think that spot oil has but in a bottom especially in the context
of shipping disruptions and higher insurance costs due to terrorism /piracy in the...
MRO on the intraday is showing signs of Bullish Divergence on both the MACD and RSI at the potential HOP level of a Bullish Bat. If this plays out I think it could make a move up towards $25
The bullish triangle wave 4 is near completion. The impulsive move is about to resume to complete wave 5. refer also to my earlier analysis attached below.
The market has been tracing out an impulse from March 2020.The market move from May 2022 is taking the form of a triangle, after the correction is done the market will resume the move up.
Both lines slope up and converge at the apex.
This is an area of over-supply.
This pattern is not valid until the bottom line is broken and is support until then.
No recommendation.
Look daily chart on left look stoch trying heading up
look buying vol look good and holding support
Know look weekly on the right heading down so not investment
I am playing daily stoch calling this a swing trade long
20.50 my stop
Marathon Oil has staggered along with other energy stocks in recent months, and now traders may see risk of a selloff.
The first pattern on today’s chart is the series of lower highs since mid-November while prices bounced at or near $26. A potentially bearish descending-triangle pattern has been the result.
Second, consider how that triangle began soon after...
MRO opening down 3% and MUCH MORE to come here as MRO and USOIIL move deeper into the bear market.
Same as my XOM thread the big clues were in the MRO/USOIL chart - back on December 1st revealed a top and showed bearish corrective price action.
as did MRO against the dollar
It is interesting that hardly anyone (no-one on TV 🤔? ) is looking at the asset over...
The PEAD projected a Bearish outlook for $MRO after a Negative Under reaction following its earnings release placing the stock in drift D with an expected accuracy of 50%.
Marathon Oil was a nice steady runner throughout the last 12 months pre pullback with the wider market. It's back up above its 20 day moving average and showing signs of regaining some of its momentum.
Just keep an eye on earning due in the next couple of days and see which way the stock reacts depending on the news.
One to watch.
MRO is going to have a big tumble after this very steep and unstable upthrust from deep lows.
Has been well overbought on the monthly RSI for some time now.
Also piercing through the 50 month MA will most likely prove to be a shakeout reversal and wick through on a higher time frame candle.
USOIL is deep in a contracting fractal following a blow off top and...
nice break past local trend resistance recently, slow grind higher since it broke. Now holding above a local trend support, as long as that holds we can target 23.6-24.7-25.8
