By the graph included, we can see that Asian container freight rate prices are skyrocketing. This is due to disruption & stock. This is good sign for the overall economy, means not in recession. With news that Trump is being called the next prez will #oil trend lower? Maybe one can offset the other? LSE:INDU SP:SPX NASDAQ:NDX AMEX:USO
We've been out of the #Oil trade for some time now. It since went about 10% higher, no big deal. Daily analysis: Broke its recent uptrend. RSI oversold - Usually gets a bounce at these levels. It has been trading in between mid 60's & Low 90's. Intraday looks like it is setting up for a bounce. -------------------------------- Weekly Analysis: You'd figure...
When it comes to oil, it was supposed to do the super moon back to $120 thing when Xi Jinping and his Chinese Communist Party finally stopped welding people in their homes and going full blown technocratic social credit while humans tried to "fight" Wuhan Pneumonia (COVID-19), but for one reason or another, the pump never got off the ground. Probably because a...
Cross arms buy longs pray to god, sounds good lets go.
$SCO has been forming a bottoming pattern for the last couple of months is about ready to break out. Upon breakout, I can see the first big target being $11.53 which would be the 50% retracement of the move. Let's see what happens over the coming weeks.
I am on the short side. Prices are so high people are drilling and pumping like never before which will increase the volume of and decrease the price of oil. The bullish speculator who's watching the television will arrive late to the party.
RSI is moderately extended and we've had a mad amount of volume come in on that wick test to the PCZ, from the looks of it WTI is setting up for a major reversal.
test ProShares UltraShort Bloomberg Crude Oil seeks daily investment results, before fees and expenses, that correspond to two times the inverse (-2x) What do you think?
I am looking for a possible doji on daily TF and retrace back to fib level 106.5. All the war news has been priced in and there is also China and Taiwan. Inventory report was bullish -2 MBOE vs + 2 MBOE. Seasonality - We are heading into weak months march and April for oil. Good Luck!
In order for the uptrend to remain intact, price would need to hold above the $83 level as support. However, because the moving averages on the ichimoku are really spread apart, it tells me price needs to snap back to equilibrium before a continuation of the uptrend. I think it's likely that price move back to the $75 range before a continuation of an upside move.
Scenario 1: Sideway between 80-85 Scenario 2: A double top formation and correction to 77-76 level. This scenario could be possible if oil closes below 80.50 in the next few days! Heiken Ashi chart: Supports the second scenario: SCO: If this correction happens, there will be a 15% gain opportunity in the next 2 weeks! ...
Resistance ~99 and 200ema holding. Possible 5-wave structure ended w/ divergence. Peak $CL_F seasonality passed too $DRIP $GUSH $XOM $CVX $XLE $CL_F $USO $SCO $NG_F $UNG #ElliottWave #CrudeOil #OOTT 🛢️
Hi there is my view near-term on Crude in the nutshell: There are comcerns about global demand due extended lockdowns and vaccine shortage in Europe The Suez canal is free now TVC:DXY marching higher Concerns on rising yields TVC:US10Y "Archegos gate" in focus OPEC meeting this week For me its "perfect storm" for further decline in oil...
According to the indicator RSI, SCO is oversold and ready to rebound to at least $35 with a peak of $60. We think that the current oil price is overdue and ready for a retracement. "World’s largest oil exporter plans to reverse recent unilateral production cut, signaling confidence in recovery" www.wsj.com
NYMEX:CL1! is trading now in long-term supply area ( resistance). After estabilished triple top price pattern we could see trading NYMEX:CL1! in falling channel.On hourly timeframe its clear downtrend and price forming hanging man pattern. After breakdown diagonal trendline price is testing it, its perfect setup to short entry. here is data for my...
Hi mates, i posting another of my todays trades. Its based od triple top on in my another idea posted few days ago. Its in realated. here is data for my swingtrade: ------------------------Trade setup --------------------------- Entry: 9.98 Stop Loss: 9,82 Profit target: 10,62 Time stop: 3...
Hi guys i sharing one of my today swing trades. Crude is trading now in longterm supply zone in extended uptrend and formed triple top pattern. Because US Dollar lifting up i will make more pressure to oil. I trading this by ETF: AMEX:SCO