CRUDE OIL :ROADMAP "PRICE MAGNET" POTENTIAL TRADE SETUP...PRICE :26.06-24.20 ...CONFLUENCE OF FACTORS
USO
USO COVERED CALL IDEAHaving waited a long time for West Texas Intermediate to hit 2009 levels, I figured I'd put my money where my mouth was and go long USO when it did.
I filled this one earlier today:
Bought 100 Shares USO @ 10.05
Sold 1 Feb 19th 11 Call
Total Package: 9.69 debit
Max Profit: $131 (if called away at 11)
You could probably get a slightly better fill than I did, as USO ended the day at 9.90 ... .
Worth a try longing the oil no one wantsMadness..... oil holding on to $30 right now.
Make or break here, with tight stops.
OIL IDEA.If oil can hold the 32.50 level (Huge support since 2002) then I think oil can rally.
I'll wait and see though. no position other than 10 strike 2017 leap puts on $USO and 13 strike 2017 leap calls on $USO.
Ryan
Short the HOG$HOG looks a little under the weather, could be time for a tune up
markets looking to go lower and $HOG seems to want to follow them,
Time for your oil change
Shorts in favor
the market is fluid.
Could Spike due to low gas prices but i see it going lower in the overall long term.
SPY - No trade is the best trade!There is a long setup in 15 min chart in SPY!
Bull flag + cup & handle.
* I prefer to go long crude with stop below $33*
Energy sector RSI divergence. Let's make a right shoulder Later on the cloud will reject it, but we'll have a strong fomo rally prior.
Shorts in FavorBasic TA
But remember the market is "Fluid" ;)
P.S
i should have posted these on 12/14/15 First Attempted
Second was an Early Morning alert about 5:AM 12/16/15
-----> twitter.com
USO is this a turning pointIs this the turning point for oil... not sure.. It's got to be sometime..
Crude is testing critical support zone Oil is testing the bottom of a weekly support zone.
40-44$ is the support zone I mentioned in my previous analyses (see linked idea)
August's spike and the strong close above 40$, created a False Break that is being tested now. If the price will close below 40$ by the end of this month, it will create a bearish signal that may lead Crude towards the X zone - near 30$.
As you can see in the upper chart, the price is now testing the neck line of a Head and Shoulders Pattern. A close below 38-37$ will probably expedite Crude's decline towards 30$ as this Weekly Head and Shoulders will be triggered.
If Crude will remain above 40$ (or even better, create a bullish Pinbar), it could mean near term rally in oil prices.. at least towards the top of the support zone - 44$.
Both the Fast and the 50 SMA lines are now approaching the support zone and will add more selling pressure on Oil.
Although things look bearish, as long as Oil above 39-40$, I continue to focus on bulls side..
Tomer, The MarketZone
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Bearish Shark will keep Crude in Trading RangeBearish Shark
C notations on the chart
I normally post my charts at Twitter.com
Due to also posting charts from other platforms ....I gather them all there.
Thanks for any thumps up or comments.
Best to your trading
TWUC
@WallStScalper
The ABCD mentioned
$UWTI 3 drive pattern3 drive pattern
C notations on the chart
I normally post my charts at Twitter.com
Due to also posting charts from other platforms ....I gather them all there.
Thanks for thumps up and any comments.
Best to your trading
TWUC
@WallStScalper
This chart ....to be seen as a teaser.
WTI breaking down out of wedge formation of past 3 weeks. We have a preliminary signal for a WTI break lower from the wedge formation it has been building for the past 3 weeks. We will need to confirm the breakdown with continued price action. Inital targets based on Fib levels of recent top and bottom are $43.48 (50% retracement), $42.12 (61.8% retracement) with the ultimate target being the low of ~$37.81 established on Aug 24th.
