1. We've reached the peak of stock buyback blackout season.
2. Massive Wedge
3. MACD Divergence
4. MFI points to overbought conditions.
5. Weak Volume
6. Nearing a double top.
7. Hanging man on the daily chart on Friday.
8. Buckle your seatbelts.
Have a great week trading everybody!!!
Not Investment Advice.
Inverse H&S Pattern complete on USO, I believe this will be catalyst for rising oil prices, of course their are many more.
1. Falling DXY- The US dollar has just started a downtrend that I believe will be a trend for not just months, but years. Fed Chair Jerome Powell just put interest rates on hold until further notice. On top of that, the unwinding of bonds...
Crude oil has been rising steadily since the beginning of the year, that price has not reflected much in the smaller cap oil exploration companies. Expecting a bullish turn around for the whole market. Prices will continue to rise as supply is squeezed from the Iran Sanctions. If price falls below $14.42 and 100 Day MA void Idea.
*Not Investment Advice.*
Plenty of gains to come out of USO yet. I'll start to become more bearish towards the end of September, otherwise consider me an oil bull for right now. On a side note, I did pick up calls at beginning of the day yesterday too for some nice gains. Good luck everyone!
Notice: Not financial advice.
Right now Gold is hitting the .618 Fibonacci resistance line, and at the same time the 50 day MA. If the precious metal can get a close above those two lines, be ready for an accelerated jump to $1240. On the hand, If It rejects, It should only fall to the bottom of the support channel. Good Luck!
Notice: I do not provide financial advice.
Very interesting play coming up this week. I definitely wouldn't say I'm going short because the neckline and the 100 Day SMA are meeting at the same time. That being said if the price does dip below the neckline and 100 Day MA It could be a nice short play. On the other hand the Dollar is could bounce off the moving average voiding the H&S. What do you all...
A close above 79 would lead to a breakout. Supporting this theory is rising inflation and a more dovish Fed. Recently Fed Governor James Bullard stated “If it was just me I’d stand pat where we are and I’d try to react to data as it comes in,”. More thank likely we will see more members of the Fed turn into doves as the year nears end. Which should create a...