Natural Gas Short Setup in hourly time frame Fundamentally also in aligns with the technical analysis Its about time and Summer is very close.
I was one of the first people to call Powell's BS on "Transitory Inflation." Sheep listened... Inflation persisting to EOY = Red Target. Green target easily achievable. Mid-Macro bullish!
GUSH (2x BULL Oil/Gas ETF) Macro events are evident and rising that would suggest a further rise in gas/oil prices. Looking at the chart GUSH appears to be consolidating nicely headed to the $107.70 s/t support area. If the $107.70 is broken I would be looking for a bounce from the $103.66 area. This could be a great long term play but I would recommend taking...
A lot happening this week with the fed meeting and someone with power somewhere running their mouth about what "ought to be". This is a relatively high risk trade long or short. To me inflation will prevail and we will likely see speculators continue to drive up commodity prices.
someone say something about oil? 4h squeeze happening right now as we speak, this consolidation is going to tighten until it fires off in the next few days oil hasn't ran in some time, so when it does, i expect an expanded 3rd for this move. has to break through a few levels before it gets there, but i reckon it's going to happen fast. gush calls near end of...
Resistance ~99 and 200ema holding. Possible 5-wave structure ended w/ divergence. Peak $CL_F seasonality passed too $DRIP $GUSH $XOM $CVX $XLE $CL_F $USO $SCO $NG_F $UNG #ElliottWave #CrudeOil #OOTT 🛢️
The general thought is this is the fifth wave of a corrective (Upward trending) sequence. Ideally, $GUSH returns to 91/s as a target w/ again (something I hate) an undefined time range: Play it w/ a position swapping; I advise skipping any additional options contracts you may otherwise have tacked on. Thrive. -BDR
I think we head remarkably lower before we break out of this long-term downtrend. The triangle will be breached eventually, but I believe the $35 target level may be in order this year before moving higher again. What will they use as an excuse for such a scourge? "Saudi/OPEC turns on the taps to fight US Shale oil market share?"
The Wave 3 we called for certainly did begin earlier this year and it looks like we're in the last push higher 📈 ... $XLE following $DRIP $GUSH $XOM $CVX $CL_F $USO $NG_F $UNG $BOIL #Trading #ElliottWave #CrudeOil #OOTT 🛢️
While $GUSH continues to actively fail its previous trade channel, this again represents a solid LONG to 91. This could simply be a "completion of the square" w/in its previous 5-wave ascending channel. It is hopefully just that: Profit Yield still hovers near 20-25% ROI on the position swapping (a long play on $GUSH). BLOOD OR OIL
Breakout from descending channel. Looking to exit near the top of the channel unless momentum looks like it can carry it above resistance.
FUNDAMENTALLY: Oil being a commodity is a safe play during any bear market or market crash. The talk about a future market crash is inescapable. Post COVID we saw a REACTION, not a “crash” I believe we will now see a true market crash post COVID. Alternatively the world is looking to go green, stretching their arms to reach for greener projects. However, it’s...
So, AMEX:GUSH hit the level a bit sooner than I thought. My thinking is that we'll play around here for a bit over the next few weeks. I expect the market to begin to 'price in' what is to come in April as production increases in Russia, etc... However - thinking you know which way we go from here with absolute certainty is playing with fire. :)
FUNDAMENTALLY: 2.17.2020 GUSH was closing at 690.00. COVID obviously lowered oil prices due to restricted travel. Travel is soon to be back on and oil will be demanded. The current prices of 67.76 is soon to become very undervalued. Warren Buffet's Berkshire Hathaway recently dropped 4bn on Chevron (CVX), an oil corp. TECHNICALLY: The patterns (shown above)...
See Chart for details and GL. Opened 2/19 52C's at market open
Moving averages and volume in and of themselves can tell an interesting story. Is a Wave 3 under way in a new bull? $DRIP $GUSH $XLE $CL_F $USO $NG_F $UNG $BOIL #Trading #ElliottWave #CrudeOil #OOTT 🛢️
From the NYT : "Under the agreement, members of the Organization of the Petroleum Exporting Countries along with Russia and other countries will increase production by 500,000 barrels a day in January and, potentially, by a similar amount in the following months. The increase, less than 1 percent of the global oil market" From WSJ : "The price rout has also laid...
Might see a short-term jump here . Just an idea. This oil pump could reverse in a flash with bad vaccine or lockdown news.