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A Bullish view on OilRN Elliot Describe himself in his book that the 5th wave in commodities is usually the longest and strongest. Red channel is the Termination Channel, For wave 5 targets at centreline or topline Blue channel is Corrective Channel, breakout or breakdown will likely guide the future trend Black line is major pivots trendline, if price gets out of that look for short opportunities I have used Fibonacci expansion for targets sorry for Lazy labelling ;) Below is my previous take on oil - thanks for reading.
OANDA:BCOUSDLong
by UnknownUnicorn10209036
XLE a W3 BO of 2GANN FAN lines+wedge move or a bulltrap to W4?XLE formed a big H&S pattern in 2002 & has since bottomed during pandemic. From there, it started a blue rising wedge which had a more chance of breaking down. However, due to the Russian invasion, it broke to the upside above the H&S green neckline.. Measuring the height of this wedge gives a target of 82.40 which XLE had reached & recently exceeded. It also exceeded 2 GANN FAN lines from 2002 & 2020 lows but registered a big red candle the next day. I think XLE is currently at an impulse wave 3 of 3. XLE must hold 79 for wave 3 to continue higher. Losing 79 may signal a corrective wave 4 of 3 back down to retest the wedge at near the 68 level before a wave 5 0f 3 starts. It may even retest the green H&S neckline started in 2002 approximately near the 66 level. Supports at 79, 68 & 66. Resistances at 88 (1.618 Fib) & 92.24(2.0 Fib of recent wave b in a zigzag move) There is better chance of XLE holding 79 with wave 4 & do the last wave 5 of 3 as the world energy crisis is not abading in the near future. XLE is the ultimate winning sector for months. Not trading advice
AMEX:XLELong
by xtremerider8
$BPT breaking out of a one month base!* Strong recent up trend * Breaking out of a one month base * Pays dividends * Price looks good on all time frames. Technicals: * Sector: Energy - Oil & Gas Refining & Marketing * Relative Strength vs. Sector: 2.07 * Relative Strength vs. SP500: 6.83 * U/D Ratio: 1.25 * Base Depth: 32.41% * Distance from breakout buy point: 1.92% * Volume 14.33% above its 15 day avg. Trade Idea: * You can enter at yesterdays closing price as it's close to the broken resistance. * If you're looking for a better entry you might be able to catch a bid around the $17 area * Target for the trade is a historical level of resistance around the $19.2 area
NYSE:BPTLong
by HaseebKhan_90
ZNOG | 1st Stage BreakoutJust some simple T/A here on this, no real fundy's or info to share there but it's O&G which isn't going away just yet. Some key notes : I like this for the cup & handle 1st stage breakout characteristic but these OTC's tend to do pretty deep retracements. We TP'd a small 30% profit as the right side of the cup shaped up nice and peaked. Cup & Handles classically produce 3rd and 4th stage breakouts so we would look to swing the next two bumps. The 200 EMA is rounding out nicely and we could see a golden cross soon but until then, it's not unusual to see price 30% below 50 EMA so we set out 2nd of two buys down at the 0.786 Fib level. The 0.618 looks like a no brainer though despite some higher volume down days (which show to be in trend decline. As always, not investment advice, DYOR and Good Luck! Box
OTC:ZNOG
by FudBox
Natural Gas’s Price Is As Combustible as the Energy CommodityVolatility in markets creates opportunity, but as risk is always a function of reward, the more the upside, the greater the potential for losses. Since natural gas futures began trading on the NYMEX in 1990, more than a few market participants have lost fortunes in the market that has traded as low as $1.02 and as high as $15.65 per MMBtu. Over five times higher since June 2020 US LNG to Asia was sold out for more than a decade A very volatile energy commodity Europe’s dependence on Russia causes supply issues If prices in Europe are a guide, we could see a challenge to the 2008 and 2005 highs The high came in 2005 when a devastating hurricane destroyed natural gas infrastructure along the US Gulf Coast at the NYMEX delivery point at the Henry Hub in Erath, Louisiana. Another storm in 2008 took the price above the $10 per MMBtu level but to a lower high. Over the next twelve years, the natural gas market changed. Massive discoveries of quadrillions of cubic feet of natural gas in the US Marcellus and Utica shale regions and technological advances in fracking and extracting natural gas from the earth’s crust caused the supplies to soar and the price to decline. Since necessity is the mother of invention, two new demand verticals developed. Natural gas replaced coal in the US for power generation. Meanwhile, turning gas into liquid for transport beyond the US pipeline network created an export market for the energy commodity. In 2020, the price fell to the lowest level since 1995 at below $1.50 per MMBtu. Since then, the bear has transformed into a bull. Over five times higher since June 2020 The most recent peak in the natural gas futures arena took the price to $8.0650 on April 18. The weekly chart shows the explosive move from the $1.44 level in late June 2020 to the April 18 high, over five and one-half times higher in less than two years. Moving to a multi-year high as the peak season for demand approaches is one thing, but this rally comes as the peak season ended in March. US LNG to Asia was sold out for more than a decade The natural gas price in Asia has been far above US prices for years. The domestic US natural gas market’s transformation and expanding the addressable market far beyond the US pipeline network has made the energy commodity and NYMEX natural gas futures market more sensitive to international prices and supply and demand fundamentals. Cheniere Energy (LNG) is a leading supplier of liquefied natural gas that travels worldwide on ocean vessels. In 2021, Cheniere’s CEO told CNBC that the company was sold out of LNG for more than a decade after signing long-term supply contracts with Asian consumers. Asian prices were multiples of US prices, making the business highly profitable. Cheniere’s share price has reflected the booming demand for LNG. LNG shares rose from $27.06 in March 2020 to the most recent high of $149.42 in March 2022. At the $135.70 level on April 22, LNG shares reflect the growing demand for their energy product. While the shares and revenues exploded higher, earnings have been elusive. The chart shows the negative earnings trend since Q1 2021. A survey of twenty analysts on Yahoo Finance has an average price target of $149.50 for LNG shares, with forecasts ranging from $61 to $180 per share. LNG is a leader, but the EPS issue could cause the stock to become as volatile as the natural gas price over the past week. A very volatile energy commodity While price ranges tend to widen at higher levels, natural gas volatility was head-spinning over the past week. As the daily chart of May NYMEX natural gas futures highlights, after trading to a high of $8.065 per MMBtu on April 18, the price moved below the $7 level on April 19. Natural gas has never been for the faint of heart as the price has ranged from $1.02 to $15.65 per MMBtu since trading on NYMEX began in 1990. However, after over a decade of lower highs and lower lows, the trend changed in June 2020. The long-term chart illustrates the trend changed when natural gas futures moved above the 2018 $4.929 per MMBtu high, ushering in a bullish path of least resistance for the energy commodity. The quarterly price ranges since mid-2021 are the broadest since 2008, the last time the energy commodity eclipsed the $10 per MMBtu level. Europe’s dependence on Russia causes supply issues The previous administration warned Germany and the EU about depending on Russia for natural gas supplies. Meanwhile, US energy policy shifted from “drill-baby-drill” and “frack-baby-frack” in January 2021 when the Biden Administration began fulfilling its campaign pledge to address climate change. Stricter regulations, canceling pipelines, and bans on fracking and drilling on federal lands caused oil and gas output to decline. While it handed the pricing power in the oil market back to the international oil cartel and Russia, it also limited Europe’s options for natural gas supplies. While the administration took a hard line against US production, it supported a Russian natural gas pipeline to supply Europe with the energy commodity. The February 24, 2022, invasion of Ukraine changed the world. While the US, European, and other allied countries came together with severe sanctions, Europe’s dependence on Russian gas remains a window of opportunity for the Putin government. Retaliating for other sanctions, Russia is now demanding rubles for natural gas supplies, boosting the currency despite other stringent sanctions. The US government has leaned on companies like Cheniere to divert supplies from Asia to Europe. However, the administration’s energy policy has not supported the new US terminals to liquefy natural gas and increase supply capacity. Russia remains in the driver’s seat in European natural gas requirements and is free to drive the price higher. If prices in Europe are a guide, we could see a challenge to the 2008 and 2005 highs At the recent $8+ high, US natural gas futures rose to the highest price since 2008. Meanwhile, European prices have screamed higher in 2022. The long-term chart shows ICE UK natural gas futures rose to $800 in March. Before 2021, the all-time high was at the $117 level in 2005. At $171.39 at the end of last week, European natural gas prices remain at lofty levels above the pre-2021 record peak. Natural gas has transformed into a far more international commodity. The US lost an opportunity to supply Europe and remove cash flow from Russia before the first Russian soldier crossed Ukraine’s border on February 24. The revenue from natural gas sales to Europe is funding the first major European war since WW II. Rising natural gas prices will fuel inflation and hit consumers in their pocketbooks in the US. Natural gas is another victim of inflation, the war in Ukraine, and US energy policy. Addressing climate change is a noble cause, but fossil fuels continue to power the world. The shift from hydrocarbons to alternative and renewable fuels is a multi-decade, not a multi-month process. The economic and geopolitical landscapes and US energy policy shift ignited a very bullish fuse in a very combustible commodity. Natural gas price explosions and implosions could be the norm instead of the exception over the coming months and years. -- Trading advice given in this communication, if any, is based on information taken from trades and statistical services and other sources that we believe are reliable. The author does not guarantee that such information is accurate or complete and it should not be relied upon as such. Trading advice reflects the author’s good faith judgment at a specific time and is subject to change without notice. There is no guarantee that the advice the author provides will result in profitable trades. There is risk of loss in all futures and options trading. Any investment involves substantial risks, including, but not limited to, pricing volatility, inadequate liquidity, and the potential complete loss of principal. This article does not in any way constitute an offer or solicitation of an offer to buy or sell any investment, security, or commodity discussed herein, or any security in any jurisdiction in which such an offer would be unlawful under the securities laws of such jurisdiction.
NYMEX:NG1!
by Andy_Hecht
CASTROLIND Next move around 30% in next 1 monthCompany is almost debt-free. Company is expected to give a good quarter Company has a good return on equity (ROE) track record: 3 Years ROE 51.80% Company has been maintaining a healthy dividend payout of 76.95% ABOUT Castrol India Ltd is principally engaged in the business of manufacturing & marketing of automotive and industrial lubricants and related services. KEY POINTS Product Portfolio The company manufactures and sells various kinds of oil lubricants and other fluids for cars, motorcycles, commercial vehicles and others. Distribution Channels The company's distribution network includes 350 distributors who service ~1 lakh customers and sub-distributors. The company also serves ~3,000 key institutional accounts directly and from distributors. Manufacturing Capabilities The company owns and operates 3 manufacturing plants in India which are located in Patalganga (Maharashtra), Paharpur (West Bengal) and Silvassa (Union Territory). Jio-BP Partnership In July 2020, the company's ultimate promoter BP plc, and Reliance Industries Ltd started their Indian fuels and mobility JV, Reliance BP Mobility Ltd. BP has already paid RIL 1 billion USD for 49% stake in JV with RIL holding the rest 51% stake. The JV aims to become a leading player in India's fuels and mobility markets. The JV has benefited the company as it began selling fuels and Castrol lubricants from RIL's existing retail outlets. Strong Parentage The company is owned by Castrol Ltd UK which is a globally trusted multinational brand. Castrol products are sold in more than 150 countries and it is a preferred lubricants partner for Volkswagen, Audi, BMW, Komatsu and many other businesses. It was acquired by BP Plc in 2002 which is one of the 7 oil supermajors in the world. Royalty Terms For the use of the brand "Castrol", the company pays Castrol Ltd, U.K. (promoter) royalty @ 3.5% on annual turnover subject to a cap of 10% on profit before tax (PBT). It paid ~80 crores and ~112 crores in royalty to Castrol Ltd U.K. in FY20 and FY19 respectively.
BSE:CASTROLIND
by inprens
Oil ETF Makes a Lower HighThe U.S. Oil Fund ETF has been ripping since December. But now it may be showing signs of fatigue. The main pattern on today’s chart is the lower high on March 23 versus March 8. That could suggest prices are entering a longer period of consolidation – possibly with an ABC correction resolving below the March 16 low of $67.73. Next is the high-volume spinning top earlier this month. That’s a potential reversal candle. Third, the equity market is giving some potential warning signs because the SPDR Energy ETF has started lagging the S&P 500. (This chart features our Smart Relative Strength script.) XLE could be important because it broke out to new highs a full week before USO (January 5 versus January 12). Its underperformance now is also potentially bearish: Finally, the news cycle may be less positive for oil as China battles coronavirus and diplomats seek an end to the Ukraine conflict. OPEC+ is expected to stick with a small production increase on Thursday, which is bullish. Will traders “sell the news” after the event? TradeStation has, for decades, advanced the trading industry, providing access to stocks, options, futures and cryptocurrencies. See our Overview for more. Important Information TradingView is not affiliated with TradeStation Securities Inc. or its affiliates. TradeStation Securities, Inc., TradeStation Crypto, Inc., and TradeStation Technologies, Inc. are each wholly owned subsidiaries of TradeStation Group, Inc., all operating, and providing products and services, under the TradeStation brand and trademark. When applying for, or purchasing, accounts, subscriptions, products and services, it is important that you know which company you will be dealing with. Please click here for further important information explaining what this means. This content is for informational and educational purposes only. This is not a recommendation regarding any investment or investment strategy. Any opinions expressed herein are those of the author and do not represent the views or opinions of TradeStation or any of its affiliates. Investing involves risks. Past performance, whether actual or indicated by historical tests of strategies, is no guarantee of future performance or success. There is a possibility that you may sustain a loss equal to or greater than your entire investment regardless of which asset class you trade (equities, options, futures, or digital assets); therefore, you should not invest or risk money that you cannot afford to lose. Before trading any asset class, first read the relevant risk disclosure statements on the Important Documents page, found here: www.tradestation.com .
AMEX:USO
by TradeStation
1
Schlumberger Holds the 50-day SMAEnergy stocks remain the leading sector in 2022. Today we’re considering another pullback in a major name: oil-field servicer Schlumberger. Like Exxon Mobil yesterday, SLB has retreated from a multiyear high to hold its 50-day simple moving average (SMA). SLB also made a slightly higher low this week versus earlier in the month. (Notice the trendline starting in late January.) Finally, both of the prior lows occurred near earlier highs. The January 24 low matched the peak from late October. The March 1 bottom corresponded to last June’s high. Both times, SLB turned old resistance into new support. That also suggests bulls have taken charge. TradeStation has, for decades, advanced the trading industry, providing access to stocks, options, futures and cryptocurrencies. See our Overview for more. Important Information TradingView is not affiliated with TradeStation Securities Inc. or its affiliates. TradeStation Securities, Inc., TradeStation Crypto, Inc., and TradeStation Technologies, Inc. are each wholly owned subsidiaries of TradeStation Group, Inc., all operating, and providing products and services, under the TradeStation brand and trademark. When applying for, or purchasing, accounts, subscriptions, products and services, it is important that you know which company you will be dealing with. Please click here for further important information explaining what this means. This content is for informational and educational purposes only. This is not a recommendation regarding any investment or investment strategy. Any opinions expressed herein are those of the author and do not represent the views or opinions of TradeStation or any of its affiliates. Investing involves risks. Past performance, whether actual or indicated by historical tests of strategies, is no guarantee of future performance or success. There is a possibility that you may sustain a loss equal to or greater than your entire investment regardless of which asset class you trade (equities, options, futures, or digital assets); therefore, you should not invest or risk money that you cannot afford to lose. Before trading any asset class, first read the relevant risk disclosure statements on the Important Documents page, found here: www.tradestation.com .
NYSE:SLB
by TradeStation
2
Crucial Moment For Oil I never post here but I really wanted to give this notice to as many ppl as possible. Forget the conflict no one knows how that will end. OPEC is still very tight with supply staying on pace with supply increases in the face of $130-$90 barrel oil. We aren't seeing much action in terms of increases in supply in the US either. Iran oil also seems to be off the table. All of this tells me we should hold this trend line and close around $99 today, but the chart is saying otherwise atm. If we close above $99 I believe we see a significant move higher to at least past resistance around $120. If we close below $99 today we could see a drop down to $80. Oil has traded in this channel for almost 2 years before the russian-ukraine war, making a move below or a confirmation of support very significant.
FX:USOILLong
by Value-Invest
1
SUNW Expected to Beat Earnings Estimates on March 11Sunworks, SUNW, is expected to post quarterly loss of $0.21 per share, a year-over-year change of +25%, while revenues are expected to be $29.5 million, up 243.8% from the last year quarter. Sunworks provides photovoltaic based power systems for the agricultural, commercial, industrial, public works, and residential markets in California, Massachusetts, Nevada, Oregon, New Jersey, and Hawaii. My price targets for SUNW in this energy booming economy are $6.40 and $8.05. Looking forward to read your opinion about it.
SLong
by TopgOptions