Sitting on a strong support Oil hit this support more than five times and it respected this support so if we received candle confirmation above the support rectangle (the green one) we can long oil
But if it closed under the support wait for retest and then we can go short.
Good luck all if you like my idea like it and comment your opinion 🍀💰😊
Oilstocks
8/31/22 XOPSPDR S&P Oil & Gas Explor & Product ( AMEX:XOP )
Sector: Miscellaneous (Investment Trusts/Mutual Funds)
Market Capitalization: $ --
Current Price: $144.75
Breakout price: $147.00
Buy Zone (Top/Bottom Range): $140.20-$120.00
Price Target: $166.70-$170.60
Estimated Duration to Target: 76-80d
Contract of Interest: $XOP 11/18/22 145c
Trade price as of publish date: $13.20/contract
$INDO Next Target PTs 18-30 and higherIndonesia Energy Corporation Limited operates as an oil and gas exploration and production company in Indonesia. It holds interests in the Kruh Block, a producing block covering an area of 258 square kilometers with net crude oil proved reserves of 1.52 million barrels located to the northwest of Pendopo, Pali, South Sumatra; and the Citarum Block, an exploration block covering an area of 3,924.67 square kilometers located onshore in West Java. The company was incorporated in 2018 and is headquartered in Jakarta, Indonesia. Indonesia Energy Corporation Limited is a subsidiary of Maderic Holding Limited.
8/24/22 OXYOccidental Petroleum Corporation (NYSE:OXY)
Sector: Energy Minerals (Oil & Gas Production)
Market Capitalization: 69.778B
Current Price: $74.91
Breakout price: $75.60
Buy Zone (Top/Bottom Range): $71.55-$65.95
Price Target: $85.50-$86.60
Estimated Duration to Target: 30-33d
Contract of Interest: $OXY 10/21/22 85c
Trade price as of publish date: $2.87/contract
8/24/22 CVXChevron Corporation ( NYSE:CVX )
Sector: Energy Minerals (Integrated Oil )
Market Capitalization: 319.434B
Current Price: $163.19
Breakout price: $164.35
Buy Zone (Top/Bottom Range): $156.20-$146.90
Price Target: $180.00-$182.70
Estimated Duration to Target: 48-50d
Contract of Interest: $CVX 10/21/22 170c
Trade price as of publish date: $5.60/contract
Oil Back to 100$ a barrelOil has had some strong buying volume around 85-86$ a barrel. Starting to break out of the downward slope to create a new higher low pattern.
If Iran doesn't except the deal the price of oil will pull back above 100$ a barrel
-Russia might also cut of demand for EU
-USA is going to stop adding supply in September because their reserves are running low
-Anything about 93.00 i would be going long TVC:USOIL
OXY - another interesting proposition TAKENOXY was recently highlighted during the recent crude oil ease off retracement. A friend kept talking about it, and new about Berkshire (Buffet) accumulating this stock kept making headlines over the past couple of weeks.
It was in the radar screen as this was something I missed earlier and looked for ward to getting some position as the crude prices should be expected to rocket higher. So, as Crude bounced off the support level (in the other post), the daily chart was tracked for a possible entry.
Compared to SOXL, this was not as pretty, but it would do for now.
Support held, bounced off, technicals on the daily were supportive of a bullish rally, Crude oil just bounced, and overall this was considered a low risk entry, so a position was taken (white arrow).
Currently is resistance zone.
Let's see if it has the resolve to break above... it should.
Inflation is over now time to deflate It all comes down to Newton’s third law “what goes up must come down”. With the pressure of the federal reserve and the U.S. government doing what they can to hedge inflation. Oil is well on its way to a downtrend the Sp oil and gas exploration index will follow suit. Rising wedge has broken likely next move is down.
6/12/22 XLESPDR Select Sector Fund - Energy Select Sector ( AMEX:XLE )
Sector: Miscellaneous (Investment Trusts/Mutual Funds)
Market Capitalization: $--
Current Price: $88.71
Breakout price: $90.50
Buy Zone (Top/Bottom Range): $84.30-$74.05
Price Target: $112.00-$114.20
Estimated Duration to Target: 133-140d
Contract of Interest: $XLE 9/16/22 90c
Trade price as of publish date: $5.90/contract
COP Oil names still leadersPost breakout shakeout makes this setup interesting. Oils stocks are leaders and we may be finding a bottom on the market for now. Even tho my personal opinion tells me this stocks already had their run, price and volume action tells me otherwise. I will be disciplined with my methodology and buy a small position as a toe in water.
$HUSAHouston American Energy Corp., an independent oil and gas company, engages in the exploration, development, and production of natural gas, crude oil, and condensate in the United States. Its oil and gas properties are located primarily in the Texas Permian Basin, the onshore Texas and Louisiana Gulf Coast region, and in the South American country of Colombia. As of December 31, 2021, the company owned interests in four gross wells. Houston American Energy Corp. was incorporated in 2001 and is based in Houston, Texas.
$IMPP entry PT .50-ish - .95 Target PT 16 and higherImperial Petroleum Inc. provides international seaborne transportation services to oil producers, refineries, and commodities traders. It carries refined petroleum products, such as gasoline, diesel, fuel oil, and jet fuel, as well as edible oils and chemicals; and crude oils. As of March 29, 2022, the company owned four medium range refined petroleum product tankers and one Aframax crude oil tanker with a total capacity of 305,804 deadweight tons. The company was incorporated in 2021 and is based in Athens, Greece.
4/17/22 HALHalliburton Company ( NYSE:HAL )
Sector: Industrial Services (Oilfield, Services/Equipment)
Market Capitalization: 36.626B
Current Price: $40.76
Breakout price: $39.55 (hold above)
Buy Zone (Top/Bottom Range): $38.80-$36.00
Price Target: $42.40-$43.60 (2nd)
Estimated Duration to Target: 31-35d (2nd)
Contract of Interest: $HAL 5/20/22 42c
Trade price as of publish date: $1.91/contract
$IMPP Next Target PTs 9-18 and higherImperial Petroleum Inc. provides international seaborne transportation services to oil producers, refineries, and commodities traders. It carries refined petroleum products, such as gasoline, diesel, fuel oil, and jet fuel, as well as edible oils and chemicals; and crude oils. As of March 29, 2022, the company owned four medium range refined petroleum product tankers and one Aframax crude oil tanker with a total capacity of 305,804 deadweight tons. The company was incorporated in 2021 and is based in Athens, Greece.
OIL SHORT BACK TO MAIN TREND IF CLOSE OUTSIDE 50 MOVING AVERAGEHi there,
As you see on the chart, OIL has closed below the 50MA on the daily time frame. We need to see a full candle close below 50MA for short. It is still above the 200MA so still a bullish trend up. But we may want to catch the fall back to the main trend. You can see our entry and profit target.
Profit target = next support point.
Entry Point = Ideally we should wait for a retest and reject from the 50MA to enter for the fall.
Indicator:
> MACD = showing sell but need more sellers
> RSI = below 50, need more strength to the down side
We don't want to see OIL close inside the symmetric triangle.
kind regards
LUKOY if i had to pick one russian stockIf i had to pick one russian stock after this huge sell-off, that would be LUKOIL (LUKOY).
PJSC LUKOIL engages in exploration, production, refining, marketing, and distribution of oil and gas.
Last year they had earnings of $773Bil and paid a dividend of $7.35, which is now higher than the price of one share.
It will be adjusted for sure.
The Market Cap is also low, $31.608Bil.
Looking forward to read your opinion about it.