Shortoil
Short Oil - Major resistance level - EV's will kill Oil businessOil is about to drop, big! Weekly RSI showing major resistance at $61 - 62.
Electric vehicles will kill global oil industry by 2030.
Big Oil Is Getting Scared Of Electric Vehicles – And So It Should Be
"EVs are going to have the same disruptive consequences. Over a million EVs were sold in Europe in 2020, are projected to hit 585,375 in 2021 in the US, and sales are strong in China too. Companies and individuals with a lot invested in the traditional fossil fuel industries are now starting to react in typical fashion, by attempting to discredit what they perceive as a threat."
www.forbes.com
MASSIVE SHORT CRUDE OIL - as "smart money" playersU.S. benchmark, West Texas Intermediate, has fallen to the $15 range as global economies remain on lockdown due to the COVID-19 pandemic, crushing crude demand. Also global oil storage is reaching its limits. The situation is so dire, in fact, that the Department of Energy is even considering paying domestic oil producers to keep crude in the ground.
Even if the RRC follows through with their plan to interfere with the free markets, however, many experts suggest that as much as 20-30 million barrels per day in demand is being decimated by COVID-19 - a far cry from what global oil producers have cut so far.
I would recommend to take contrarian trade to the herd, who expect oil rebounce - SHORT SELL the hell out of it until the end of the April.
US OIL SHORT TERM BULLISH, MID TERM BEARISH, LONG TERM BULLISH Good Day Traders!
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Our US crude oil setup:
Rules:
1. SHORT ONLY when price touches the white box.
2. SHORT ONLY when bearish candlestick shown on chart (4H above)
3. DO NOTHING when above #1 & #2 are not met.
TP below level 20.00
CL above level 37.00 (wave 4)
RR > 2
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PART I Getting in the Game.
RULE #1 Know Your Game.
RULE #2 Have a Trading Plan.
RULE #3 Think in Terms of Probabilities.
RULE #4 Know Your Time Frame.
DISCLAIMER: There is a very high degree of risk involved in trading. Past results are not indicative of future returns. Trade at your own risk.
Long-Term USOIL ChartThis is a basic chart for educational purposes. The arrows drawn are not predictions, merely possibilities.
There are two scenarios I see potentially playing out:
1. Deflationary crash. I don't think this is the most likely scenario. The Federal Reserve would have to continue with monetary tightening by allowing interest rates to rise and they'd have to be very slow in responding to a recession (like 2008). If this does happen, I see us following the red arrow. With the economy slowing down as it is, this isn't outside the realm of possibility, a big slowdown would have to take place and surprise most people.
2. Inflationary pressures spark higher OIL. Inflation is supposedly "low". If interest rates go lower, Quantitative Easing makes a comeback, and the budget deficit increases (normal during a recession), then there is no way inflation remains "low". 2% per year inflation could very easily and very quickly be exceeded. These inflationary pressures will be good for oil.
US OIL / WTI / CRUDE OIL This is not an investment recommendation or any call to buy or sell
It is just an analysis based on a study of the history of price action
Behavior , that may not be a necessarily reason for the success of
the structure or repetition. So please make your decision based on your vision .
To protect capital and manage your deals and trading successfully
the maximum loss in each transaction for the same currency or
commodity in the same direction should not exceed ( 2% ) of the capital .
Good luck >>
SHORT BRENT OILOIL HAS RECOVERED ABOUT THE HALF OF THE DESCENT STARTED IN OCTOBER AND FINISHED IN JANUARY. WE ARE ON A VERY IMPORTANT STRUCTURE AS YOU SEE THE GRAPHIC. PERSONALLY I ARE LOOKING FOR ENTRIES TO SELL WITH STOP LOSS WITH CLOSING OVER 71 DOLLARS,
I THINK THE BRENT CAN MISS A 4-5 DOLLARS IN THE NEXT MONTH.
GOOD TRADING AT ALL
$BIOAQ Don't let the shorting MMs fool youShorts (and some naked shorts) are being squeezed.
OS at 129.45M and public float of 116.91M
www.marketwatch.com
Check out the volume:
As of 1:20pm EST, $BIOAQ has traded over 14M shares
With all the news out does this feel like retail profit taking or MM manipulation?
If you're on L2, check out the orders-- 250k and 500k orders...these aren't retail.
Here's Jim Cramer explaining how he would do exactly that:
www.youtube.com
*especially watch the first 90 sec
The shorts are getting squeezed...there are less than 4 trading days left until the deadline of court ordered sales transaction.
Don't be fooled, lock in long.
oil inventories near to come Be Alert. expected drop after jumpoil inventories near to come with in 15 mins. As
technical oil support seems at 48.5 resistance 50.5.
now trading at middle point. 49.4 expected after news
can jump then drop . if hold on daily above 50.7 next
station 52-52.5 where breakage 48.5 may call for 47
Advice to sell in range of 49.35-50.5 sl above 51 TP 46.
Use small lot.