UCO is shown here as a one month trend - It is sitting on the rising support tendline about 2% below the recent high. Oil prices contribute to inflation. Anyone in the USA is aware of gasoline prices at the pump. Geopolitics plays into price. At present, US Navy warships are consuming refined oil and heading to the Middle East. Iran and Russia are sanctioned...
Spot Oil on 30-minute chart had a slow rise in the past 24 hours followed by a pause and then a jump on the Israeli retaliation strikes into Iran. Middle East oil shipping in the Red Sea and Persian Gulf are at risk and shipping insurance for ongoing shipments is likely to experience heavy rate increases if shipping does occur. Houthi rebels may resume proxy...
On Thursday January 11th ( earlier today) WTI Crude prices gyrated widely likely in reaction to US /UK intervention on the terrorists who seized a tanker on the behalf of Iraq in the Red Sea / Suez Canal area putting shipping and supply concerns into the oil industry to offset any weak demand. The 15 minute chart shows a megaphone pattern as a...
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.
CVX today dropped suddenly for unclear reasons. The possibility of a Israeli - Hamas War cease-fire may have led to expectations that oil prices would fall as the shipping quagmire in the Red Sea might stabilize. Later in the day OPEC+ announced a raised target of $ 1.00 per barrel higher which on balance seems to be an offset maneuver. CVS in the ...
The idea was that while US Oil is not directly affected by the tensions in the Middle East as most of it is domestic consumption, what portion of it that is exported does not go through the Suez Canal but rather across the Pacific to Asia mostly. The idea was expanded by no matter that, the Middle East quagmire affects global oil prices all intertwined. The...
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...
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...
USOUSD today on the 15-minute chart dropped on a downtrend outside the Bollinger (lower) Band (49, ohlc,2) hit a Doji candle and then started the upward retracement. The RSI indicator shows relative strength hitting a bottom and bouncing up. RSI is about to go over 50. Price is currently below the high volume area with the POC line aligned with the basis...
SHELL is having reasonable retracement. It is concurrent with SP500 retracement today. Entry at demand zone if we see signal on this level. Potential squeeze bottom of previous swing low to form bullish signal.
NRT an oil trust stock, is up 75 % for the year despite global challenged market. It is in the middle of its trading range for the past 12 months. Given the situation in Europe and lack of Russian oil in the free global oil market. I see this as a long-term swing play on energy with upside heading into the European winter heating season. With the RSI between...
VET like OXY is showing a great chart with consistent price action. Fundamentally, it has had great earnings reports in the past year. It rates an 8/8 on the Minervini Trend scale showing strength and duration of trend as very high. Vermillon Energy has been strong in the general market downturn. I see this as a Swing long setup with a good expectant reward...
BITTREX:USOUSD USO having retraced down from its high at resistance above its uptrend until bouncing off a retriacement Fibonacci level is now poised to rebound up until at least hitting the respective Fibonacci levels of that move. This appears to be a bullish pennant now ready for a continuation / breakout. I see an immediate term upside of 10% and...
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 !
Downside is limited. Inflation is real. Fibo 61.8 can be achieved easily (the green line) . Good luck.
1) The breakout above the down trend-line starting from the highest high , when the price went above 101, marked the beginning of the movement we've seen so far (+$8). 2) There's 2 technical scenario playouts: *Break above 108.20 with a 4h/1d close - 113.40 to 114.64 may be reached in the very short-term *Break below 104.50 with a 4h/1d close - 97.90 to 93.20...
This is a 5 bagger trade, without going into too much depth... books strong, div yield; 18.52%, do your own dd but this thing will rocket with supply issues for oil, nat gas, and etcccc