Long ERX - energy 3xDirectional Bias: Long to 41.5+
Price Target: ERX
Good Entry: 37.7-38.3
Risk/Reward: $1 cents max stop/$2.5+ reward
Gush
$GUSH Oversold at Support$GUSH Oversold at Support - expecting to see a bounce off 33.35 support level
GUSH-10% quickVolatile upward momentum, Quick hits
Bull flag with floor and new momentum upward, crucial space for movement
Use tools of ^price pressure^ dip= trailing buy <37.5 with stop loss at 37, Upward move, Conditional entry above green line, and trailing stop :)
USOIL Continuation pattern or Trend Breakdown?Personally, I'm leaning towards a trend breakdown because of the RSI has lost it's trend and broken below it.
On the other hand, That symmetrical triangle is pretty attractive alternative option to watch.
USOIL Trend AnalysisIt would appear that the intermediate term trend is going through an ABC correction.
Supply Zone exists in the $53.50-$57 range
Long Term Price Support exists at $54
50% Fibonacci retracement exists at $54
Measured Move exists at $55
Channel Resistance exists at $62
Long(er) Term Price Resistance exists at $63
Short Term trend bearish
I'll go long when I hear "NEW BEAR MARKET FOR OIL?" on the news
Oil Bounce PlayWe've gotten some good price action around the 63.45 area. A close above the downtrend resistance line and this becomes a longer term Bull play. It's important to wait for a confirmed "Bullish Reversal Candle". I'm expecting a bit more downside before this Long play plays out.
Happy trading,
Charles
GUSH, time to go long? Looking at the chart for GUSH. I am looking for a break above the last high (green dotted line). A move higher should signal a continuation of higher highs and higher lows (red lines). I'll buy with a break above. OIL is looking good and other stocks like RIG and VLO seem to be trending higher. Wait for the break of the green line to confirm, and then set your stop just below it. It must hold.
Energy Sector GUSH trade ideaLooks like the energy sector is heating up. Oil USOIL is trending higher, and maybe the energy services will follow suit. I like the GUSH chart here, all the moving averages have turned higher on the hourly chart.
AXAS set to runAbraksas Pete, AXAS is set to run again. With the weekly chart breaking above the 34sma returns look promising. This stock could run up to the $3 range yielding a nice return. The daily chart and hourly charts also look good. As long as the OIL services sector continues higher AXAS should move higher as well. Others to looks at are GUSH, RIG, DO, VLO. Stay in this one, until you see the stock drop below the 34sma on the daily.
ERX Long IdeaWith WTIC moving higher the OIL sector stocks are finally starting to react. GUSH and ERX both looks promising here. GUSH had a big day up over 10%. ERX I am looking to go long with a move over the 50sma. Tomorrow may be a buy.
USOIL trade idea.....Going long on USOIL by using GUSH. USOIL just completed a 3 drive to a bottom pattern. We can expect a turn here. Panic selling this morning is tough to go long into but the rewards should be there. Set a stop just below $43.
XOP: 4am Dip in USOIL Futures Signaled Top-of-Channel ReversalOne significant dip in USOIL around 6am predicted a lower open and subsequent dip and daily run on USOIL and XOP today. Oil futures were down significantly, and XOP was trading at the top of its most recent channel.
GUSH, XOP Follows Crude Oil FuturesIf you want to know how XOP, GUSH and DRIP are trending, just take a look at the crude oil futures. XOP responds to CLQ2017 throughout the day.
USOIL ready to reverse upI went long on 2 light sweet crude oil futures last night at $44.30. Now $44.81. Good support in the low $44 area. This morning I will enter a position in ERX and a smaller position in GUSH in my 401k. See also chartwatchers idea on this.
USOIL, long ideaBuying GUSH this morning to play the long on USOIL. Looks like a short term AB=CD pattern in play. $48.73 in USOIL should be the 1st target. On the daily chart %R is rising out of oversold conditions. TSI should cross soon. TSI crossed on the hourly chart.
GUSHBuying the oil services 3x ETF here GUSH. Looks to be coming off a double bottom (purple arrows) and has a bullish TSI crossover. Wish I spotted this earlier.
USOILI went long GUSH Yesterday based on this USOIL chart. After reaching the 61.8% retracement OIL reversed. I exited my short trade and entered long. I don't know if this is a short bounce or a strong run. I'll be watching. I expect to get a 50% move off this high.
GUSHGUSH, is how Im going to play this move in OIL. OIL looks to be moving higher. I like GUSH as it consolidated at the 50% Fibo, it now looks to be breaking above the 50. RSI is moving from oversold. TSI looks to be crossing over positive. Ill take this as a low risk trade. Target at 124.50 stop just below the 50.
USOIL HEAD AND SHOULDERS, WATCHING/WAIT FOR BREAKOUTALL IS ON CHART
WAIT FOR SAFE PRICE ACTION AND POSSIBLE NECKLINE TEST. OIL ISN'T HAPPY WITH DOLLAR MOVEMENTS. SO IT THE DOLLAR TAKES A BREAK FROM IT'S PUSH, OIL MIGHT GET A BOOST.
Searching in Oil for something to trade. Long off of Butterfly DSorry, quick chart, shows my mess but dark green is fib if PA/RSI show retrace in action.
