USOUSD after its minor correction on the 15-minute chart is resuming its bullish trend with an engulfing green bar and confirmatory indicators including an uptick in the postive directional index and on the BB a move from a bounce near to the basis band toward the upper bands. I will go long on leveraged forex.
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...
Keeping this simple Daily Oversold, w/desc triangle breakout set up. Bull flag breakout set up with a min retrace target 81.97.. previous resistances of 75.40-76 have been flipped to support.. I do have a position. Not trading or investing advice..
UCO popped in April and then dropped into a consolidation in May and June where it set up a base shown by the POC line on the volume profile. Once over the POC on July 6th on the daily chart coinciding with a golden cross on the HMA 56/210 combination the bull trend began. The dual time frame RS lines in the 60s suggest more to come. I am trading UCO and...
IMPP is rising from its lows of July after falling from a triple top in June at 3.8 which is the target for a long trade. Price is now above the POC line of an intermediate term volume profile having crossed the mean VWAP line anchored at the share split (purple and thick black lines respectively). Price bounced off the first negative standard deviation line...
We have encountered two gigantic patterns. Oil will visit both $48 and 120 USD. The question is, which price will it reach first? The expanding wedge allows for the completion of the large flag that takes us to $120 Bull patterns: A mega Flag A Flag And a symmetrical triangle that completely changes the down trend for now Bearish patterns: expanding...
OILU is a risky high volatility ETF on oil exploration and production. Where there are risk and volatility there can also be plentiful profits. On the 4H chart,OILU can be seen breaking up through long-term anchored VWAP bands in a trend that began in mid-May. Price is now approaching the mean VWAP lines. The POC line validates those VWAP lines coming in at...
As certain countries want to exchange oil for money with anything but USD such as Chinese Yen or even a cryptocurrency to be launched by US neutrals or adversaries cooperating, USO on this chart rose dramatically over the past month and is now sitting at resistance as shown by the LuxAlgo Supply and Demand Zone indicator. The RSI shows possible bearish...
oil majors will hold back new exploration and production. majors like BP turned on mega fields while prices to buy everything was cheap. they will pump their stocks now and hold back on new exploration and production and curtail current supply as required until 2024 to 2025
The Fed has made it clear they need oil prices lower and they will continue to crush the market until we do something about it as traders. In the Information Society we are no longer needing to control the masses through the tyranny of violence or the scarcity of resources. Its better to ensure we continue to grow globally. The pyramid must continue to be...
MA lot of people is thinking in oil at $50 why if it's going back to $100 and beyond? $GUSH $XOP
NYSE:OXY Massive Bullish Candle takes out 90 days of price action See the chart for more analysis Time is of the essence as they say; buy now or do not chase !
VANTAGE:USOUSD With the news catalyst of massive new open leases on federal land for USOIL and the big oil companies USOUSD has reacted with a big uptrend. with major resistance 3 to 4 percent higher this may continue. This seems to be a good setup for a swing long trade on USOUSD and potentially any of the big oil stocks.
as stated in my post earlier I have a small position in VLO & this inverse head and shoulders as my top watch.
Little updates on Natural Gas... Forming Rising Wedge - Bearish Pattern RSI Divergence - Bearish PPO Divergence - Bearish Waiting for the break of the Trendline!
UNG is forming Rising Wedge Long term we can see its forming a perfect Bearish Head and Shoulder pattern Short term target is at $23 Mid Term target is $21 Long Term target is at $12
Clearly there is a Bearish Divergence on XLE and XES on RSI and PPO On Weekly time frame as well, there is negative divergence Risk to Reward clearly favors Short Opportunity
Excellent short setup on Natural Gas! Waiting for the 7.5 Level to Short! Also SUMMER is here in USA and across the Globe...