Oil is just getting lubricatedLooking for oil stocks to kick it into high gear. Large cap play XOM looking to break out of long downtrend. Small cap lotto CRC just recently broke above trendline.
Oilstocks
Oil Forecast( WTI)(Crude) Following Periods of consolidation after the the dip lower( marked in boxed up area), price has gotten going again and looking at it possibly challenging current structural high to break out higher...
Levels and live entries here:
www.energyexch.com
Oil Prices, Triangle Continuation or Break Below?Oil prices has stalled temporarily as price has bumped into a powerful daily triangle formation. Due to the strength of this triangle in the past, I'm leaning to the short side here for a rebound after a strong bounce. We're currently watching a few levels here
As always, even though we may lean one side or another on a trade(Long/Short), its important to come to the charts with a zero bias mindset. This is why I love the concept of trading with market structure. If you're wrong, you can know you're wrong in a very short amount of time and close the trade for a small loss. The structure gives you a higher percentage of success by only taking entries using key turning points in the market from the past. For the time being, market structure is giving a signal that price wants to go down. However, if price were to come back above 60.19, I'd change my bias and say Oil wants to continue moving up.
USDWTI (OIL) Market Outlook | Daily Forex Market BreakdownExtremely bearish close for Oil. It seems next week is playing out to be a very good week! Oil has been choppy recently so I have been extra cautious.
USOIL (Gravy Train)Rough sketch but you get the picture. I'm fairly new to trading so I'm not sure of all the fancy wave names and the technical nomenclature but this is what the chart is saying to me. I'm just listening to what its saying (or moreso what I see). It's damn a near flip flop of how the directional trend got started.
Lets eat. Amen.
Hurricane Enery - Buying the bottom of the rangeBuy Hurricane Energy (HUR.L)
Hurricane Energy plc is engaged in the exploration of oil and gas reserves principally on the United Kingdom Continental Shelf. The Company's acreage is on the United Kingdom Continental Shelf, West of Shetland, on which the Company has approximately two basement reservoir discoveries, each containing approximately 200 million barrels of oil equivalent (MMboe).
Market Cap: £827.54Million
Hurricane Energy is trading in a neat range on the daily chart. The support at 38p has held successfully and the shares look set to close above the 10EMA. This could be a sign that bullish momentum is about to return. The upper end of the range comes in at 60.70p which is our short to medium term target.
Stop: 36.4p
Target 1: 60.70p
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t.me
Decent Chart - Ready for The Rocket?The chart looks like it is staying within its trend. With a weakening dollar this chart could see a huge upside if the oil price creeps up.
Elliott Wave View: Oil Resumes Lower ImpulsivelyShort term Elliott Wave view on Oil suggests wave (B) rally ended at 63.38 on September 17, 2019 high. The commodity has since turned lower within wave (C) which is unfolding as 5 waves impulse Elliott Wave structure. This view will get validation when it breaks below the previous low on August 7, 2019 low (50.52). Down from 63.38, wave 1 ended at 57.67 and the bounce to 59.54 ended wave 2. Oil then resumes lower in wave 3 which is extended and subdivides as an impulse in lesser degree.
Wave ((i)) of 3 ended at 58.01 and wave ((ii)) of 3 ended at 59.39. Wave ((iii)) of 3 ended at 53.05 and wave ((iv)) of 3 ended at 54.42. Near term, while bounce stays below 59.54, expect Oil to extend lower to continue the 5 waves move from September 17, 2019 high (63.38). We don’t like buying Oil and as far as pivot at 59.54 stays intact, expect any bounce to fail in 3, 7, or 11 swing.
MCF Still Chugging But Can The Volume Continue?Another penny stock that has been on a tearing run over the course of the past three weeks is Contango Oil & Gas Company ( MCF ). We originally reported on the company in September, “5 Top Penny Stocks To Watch Before October 1.”
" During the course of the three weeks, the stock has gained in excess of 455%. This came after two key developments. Towards the end of September, the company announced that it had reached an agreement to buy the assets of White Star Petroleum. White Star had filed for bankruptcy and Contango decided to pounce. "
Source: 3 Penny Stocks To Buy or Sell In October?
EOG Resources (NYSE) Invest In This Oil Stock!May be a possible GAIN/PROFIT in the oil stocks long/short term depending on the next upcoming days/weeks. as seen in the diagram this stock could be a potential rise and gain in all of the upcoming oil stocks add this to your watch list.
RoyalDutchShell (RDS.A) upcoming attractive oil stock dividend"The Company consists of the upstream businesses of Exploration & Production and Gas & Power and the downstream businesses of Oil Products and Chemicals. It also has interests in other industry segments such as Renewables and Hydrogen." right now Shell currently offers the highest dividend yield among the oil majors, at 6.5%. Moreover, that dividend is comparatively safe: Even during the oil price downturn of 2014 to 2017, Shell didn't cut its dividend like many independent oil producers. It is also trading at an attractive valuation right now,, a consistent payout.. its a gasoline play thats not about the gas,, this is to become an attractive dividend stock by far.
HollyFrontier Corporation: Buy Opportunity on multiple signals.HFC is currently testing the August 01 High (53.90) and 1D Resistance after a non-stop 15 day bullish sequence that nearly made 1D overbought (RSI = 72.486, STOCH = 79.880, MACD = 1.560, ADX = 60.274). If we convincingly break above that level then 1D will print the Golden Cross formation (MA50 over MA200).
The same pattern was last seen in 2017 and resulted in a +70% rise on a January 2018 Top. The RSI is also replicating a similar pattern. Based on that we are bullish on this stock aiming on the medium term at 65.00.
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BP - Head and shoulders top forming?SELL – BP (BP.)
BP p.l.c. is an integrated oil and gas company. The Company owns an interest in OJSC Oil Company Rosneft (Rosneft), an oil and gas company. The Company's segments include Upstream, Downstream, Rosneft, and Other businesses and corporate.
Fundamentals
BP’s second quarter earnings came in flat as increased production offset lower oil prices. According to CEO Bob Dudley, “BP is right on target”. The initial reaction to the results was positive although this quickly reversed sending the shares sharply lower. Increased tensions with Iran and oil tankers being seized has not done much to the oil price, this may be suggesting that prices are high enough and that there is enough oil in circulation to match current demand.
Best Broker Target Price: 700p (Barclays 04/04/2019)
Worst Broker Target Price: 590p (Deutsche Bank 06/02/2019)
Technical Analysis
BP has closed below trend support that began in early 2016 on the weekly chart. This also took out horizontal support at 525p in the process. The shares attempted to rally in the following week only for the shares to be sold down again to form an inverted hammer candle. There is potentially a bigger threat forming in the shape of a head and shoulders top. The neckline of the pattern comes in at around 500p. A break of this level could trigger a deeper corrective move towards the 50%, 61.8% & 78.6% Fibonacci retracement levels over the medium term.
Recommendation: Sell between 500-530p
Stop: 570p
Targets: 456p, 421p & 372p
