ENERGY TRANSFER Inverted complex H&S - 3.56 RRConsolidation since June 20th.
Call it rounding bottom, inverted multiple/complex head and shoulders or perhaps a cup and handle bottom but the idea is the same - BREAK OUT AFTER MONTHS OF CONSOLIDATION
Entry 7.17
Stop loss 6.55
Take profit 9.38
Adjust position size according to risk appetite
Comments or cheers will be appreciated
Energies
Natural GasExperimental probability of breaking 13/07/20 high (2.9756) > 80%
Expected reward: High (Targets highlighted on chart)
Entries: Discount zones highlighted on Chart
Note: discount zone are invalid if price broke the high.
Oil yet to break beyond $45,00Firstly, please support our work by clicking like button & or following! These really assist us to reach more investors & traders like you! Oil prices are yet to break beyond $45,00 as demand remains subdued. Prices have managed to stabilize above $40,00 per barrel for the past two months. A consolidation is more likely above this region as markets awaits more information.
Natural Gas Gains MometumFirstly, please support our work by clicking like button & or following! These really assist us to reach more investors & traders like you! Natural gas remains upbeat as we head into September, the period were demand for heating energy start to gain momentum. Technically, prices have formed a triangle with no clear indication of were the breakout will head to. Prices have a relatively stable support above $2,20.
Oil trades close to $43.00Firstly, please support our work by clicking like button & or following! These really assist us to reach more investors & traders like you!
Prices climb towards $43.00 per barrel as optimism around Covid-19 vaccine increases. Prices have remained strong in the Ascending Pitchfork. A break beyond $45.00 will likely trigger a run towards the important price of $50.00 per barrel.
Oil ahead of market opening.Firstly, please support our work by clicking like button & or following! These really assist us to reach more investors & traders like you! Prices look to remain above $41.00 per barrel as Iraq & Saudi Arabia highlighted their commitment to cut back production during this month of August.
Energies Weekly ReviewFirstly, please support our work by clicking like button & or following! These really assist us to reach more investors & traders like you!
Natural Gas remains the top performer regardless of subdued demand on the global markets. Oil rallied on increased geo-political risks
in the Middle East, when a port in the city of Beirut was flattened out by an explosion. However, as the week progressed prices corrected onto the downside.
Oil Strikes 2 Months HighFirstly, please support our work by clicking like button & or following! These really assist us to reach more investors & traders like you!
Price remain strong in an ascending channel, a strike at the upper resistance offered an opportunity for scalpers to take sell position.
Oil in the 40sFirstly, please support our work by clicking like button & or following! These really assist us to reach more investors & traders like you!
Prices have managed to remain solid above the psychological level of $40.00/bbl for almost a month now. Key regions are defined by a
series of support & resistance lines.
Natural Gas SlidesFirstly, please support our work by clicking like button & or following! These really assist us to reach more investors & traders like you!
Natural gas succumbs to long-term trend.
Traders losing interest in oil?Firstly, please support our work by clicking like button & or following! These really assist us to reach more investors & traders like you!
-Traders losing interest in oil as prices swing around $40.00/bbl for a third consecutive week.
-The trading volumes on oil futures has remained subdued over the past few weeks as markets seek new strong information.
- Prices have now slipped out of an ascending pitchfork but aren't prepared to go down.
Midweek Crisis For OILFirstly, please support our work by clicking like button or following! These really assist us to reach more investors & traders like you!
Prices are struggling to go further beyond $41.00/bbl. If prices slip out off the ascending pennant bears will target $38.00 & $34.00 in that order.
Natural Gas loses bullish momentumFirstly, please support our work by clicking like button or following! These really assist us to reach more investors & traders like you!
There is a divergence on the RSI which is likely to tame the strength of the bullish momentum. Prices are set to correct and try to retest the support before continuing in the bullish direction. Bulls will be worried once prices break below the $1.85 region.