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RIG-Looking Good for an EntryRIG-is looking good for a long play...short-term it is crossing over on the MACD and with US drilling news from the US govt....Offshore RIGS are on the move. I look at this level for 1 and 2 year leaps at this price with targets of 15, 30 and 45 over the next two years. Complete your own assessments and conduct your risk profiles. My chart and plan are my own and any other party that trades with this information does so at there own risk....
NYSE:RIGLong
by ramonbenavides12
Long APCWith oil prices on the rise, we should see an increase in earnings for oil/gas and plastic manufacturing companies. APC is an American petroleum and natural gas production company headquartered in Woodlands, TX. It has out-performed the S&P by 7 percent over the past 4-weeks. APC currently trades below its 52-week high (73.33) at 47.79. It's average Put/Call ratio is 1.24. It currently shows a ratio of 1.22, displaying less negative sentiment than average. Its price is currently at a strong S/R line on the daily chart and is trading up on the weekly chart. The RSI is currently ranging bullish between 80 and 56. The previous day produced a higher high and a lower high but with a negative net change. I'm personally going long when the net change turns positive.
ALong
by Brandon50115
TRANSOCEAN LTD (RIG) Long TradeLong term position in TRANSOCEAN was initiated on 27.08.2017. The Stop of this trade is below 6, but I am willing to keep this trade as long as needed and possibly to reevaluate stop if necessary. Current Risk/Reward is 1.5. We are betting on the stabilization of oil prices and good chances the oil fracking industry will survive and the best companies will prosper in near future. The macro bet is on rising inflation and possible rise in Oil prices as well. Additional support is the extremely low financial valuation of this company.
NYSE:RIGLong
by auroraspot
XLE/ERX - Trend line attackI'm not satisfied with the performance of our XLE and ERX position. Sooner or later the rally will start here also... The more time we spend below the purple trend line the bigger breakout will come. On the 4th of April we broke above the trend line but lost it in a week. On the 4th of May we printed a new low in this decline on very high volume. Most probably that day was the bottom. If stocks are printing a correction during the next 2 weeks - unlikely - we might test back 65.82$... I think when we break above the purple trendline again that will be a valid breakout and the great rally in oil stocks will start finally. I will try to trade some individual stocks also. There will be stocks which will print 4-500% rally in the next 3-4 months. I think ERX also has a good chance of printing a 200-300% rally. All the indicators (MACD, TSI, SlowStoch) are showing a divergence. I'M preparing for 2 scenarios: 1. We are churning around the trendline for a few more days and breaking out 2. we test back the lows at 65.82$ and a monster rally is coming out of the double bottom. Nasdaq, S&P, Dow Jones at all time highs. I see zero chance that oil stocks will miss this rally.
AMEX:XLELong
by chartwatchers
27
Analysis of production, consumption and reserves of oil and oil On April 11, a fresh STEO report comes out, so you should wait for the updated forecast for the oil market from an official source. Conclusions on this report will be published in the blog www.cofutrading.com. But at the moment the situation is as follows: OPEC reduces production, and the US increases it. But along with the growth in production, which is accompanied by an increase in the number of drilling rigs in the US, oil consumption is also increasing. Exports are also high. Despite of inreasing us oil stocks (which is quite normal for a given time of the year), the growth rate of reserves is low, it is lower than last year and below the average for 5 years of value. That in general is bullish (at least for me). Demand for gasoline is high, demand for distillate is also high, so refineries will continue to "consume" a sufficient amount of oil, absorbing the growth of supply. Judging by CFTC COT reports, as of March 28, funds reduced their extremely bullish position. I do not attach high importance to these reports, I can only say that the long lines have been dropped, so the way for entering new long positions is open. I continue to adhere to the neutral-bullish direction in the US oil market, but before the opening of new positions I will wait for a new STEO report from the EIA. See EIA report charts at my facebook page :
NYMEX:CL1!Long
by zooeysparks
Analysis of production, consumption and reserves of oil and oil On April 11, a fresh STEO report comes out, so you should wait for the updated forecast for the oil market from an official source. Conclusions on this report will be published in the blog www.cofutrading.com. But at the moment the situation is as follows: OPEC reduces production, and the US increases it. But along with the growth in production, which is accompanied by an increase in the number of drilling rigs in the US, oil consumption is also increasing. Exports are also high. Despite of inreasing us oil stocks (which is quite normal for a given time of the year), the growth rate of reserves is low, it is lower than last year and below the average for 5 years of value. That in general is bullish (at least for me). Demand for gasoline is high, demand for distillate is also high, so refineries will continue to "consume" a sufficient amount of oil, absorbing the growth of supply. Judging by CFTC COT reports, as of March 28, funds reduced their extremely bullish position. I do not attach high importance to these reports, I can only say that the long lines have been dropped, so the way for entering new long positions is open. I continue to adhere to the neutral-bullish direction in the US oil market, but before the opening of new positions I will wait for a new STEO report from the EIA.
TVC:USOILLong
by zooeysparks
USOIL SHORT: CONSOLIDATION PATTERN2 months later, oil is still flat. As mentioned in my previous post about oil, I think this is a very crucial moment in the future price of oil. That's because oil is heavily manipulated and thus, if we fail to fulfill the consolidation and crash pattern as observed on 2015-06-29, I think oil will shoot to $65. All indicators on the weekly are very bearish and additionally the price has been riding the 10DMA into reversal. I currently hold a position with NO MARGIN at an average 52.57 (January Contract Prices). Thus, I can afford to wait. I will average my position down as much as possible unless the price breaks up the daily wedge (see previous post) which will make me exit my position. Still, I think the possibility of that happening is low.
FX:USOILShort
by BigCharts
7
OIL SHORT: Biggest scam of the year or technical consolidation?Dear shorts, I know most of us are extremely frustrated with the situation of OIL in the past (almost) 2 months. Whilst it should have retraced a long time ago, it can't seem to do so. In the early stages of this short trade, mostly technical indicators supported the idea whilst in the past ±4 weeks fundamental factors should cause oil to crash, since despite OPEC's pitiful attempt to cut production, the glut has grown. Yet, we see oil refusing to crash and moreover, we see oil skyrocketing on days where data is the worst. This makes no sense fundamentally and thus I was led to conclude that there are MM involved in this state in which oil is traded under. Still, before every major downturn for oil we see a period of consolidation ranging from 16d to 58d. The longer the consolidation the worst the movement downwards (statistically). Despite my frustration I have been averaging down my position every time I find an opportunity. The downturn should start soon and it will be ugly. All the pumpers will flee and oil should crash. Yet, there is a possibility that pumpers win since the divergence between Hedge Fund and retail traders positions are at a huge divergence. Thus, I will set my stop in the range of 55-55.35.
FX:USOILShort
by BigCharts
16
The stubborn hunt for the 40'sStill short from $54, have not sold or added to my position at all. Blue line: $52 transition line, this line needs to be broken strong for us to head lower imo. Red trend-lines: We've see an increase in prices, with declining RSI. This is a bear divergence.(whether or not it will play it is another story, yet I believe it will) Orange line: This was a bull RSI trend-line witch has been broken as of late, and the RSI is beginning to look very bearish to me. The flags are areas in which I am predicting that the RSI and price will hit. I am not adding or selling any of my position for the near future (obviously unless my SL at BE gets hit). I will be expecting slight bounces based on some BS news from the middle east, or if we hit any support areas on the way down, however I will not be scared into selling something that easily looks bearish in my eyes.
FX:USOILShort
by GeorgeJimas