Also own BP common and some OXY CALLS going out to 2/19/21.
I adjusted my count due to the price action that we had from the beginning of June and proposed another setup which can be in play if the price action fallows. Of course we can take in consideration the fact that we can see much higher prices before a correction will fallow but it's less probable. All i can say it's that the price action and the pivots that we...
Wait the end of the price retracement before buying.
It has been one of the most dramatic years for oil markets ever. From demand destruction caused by the coronavirus to the Russia-Saudi price war to US crude prices turning negative. What does it all mean for the oil industry and ‘Big Oil’? ## Saudi Aramco and Sinopec are not traditionally part of ‘Big Oil’ but they are huge global players worthy of being listed.
Hi Cup and handle formation developing on BP Take profit around the yellow line. It's a bullish chart formation. Alex
Despite the gloomy oil industry news overnight BP didn't shift from its current low. For the past 20 years it has been range bound in a sideways channel which it dipped below on the 20th March. Historically a dip outside the channel has lead to 50% increases to the median line in an ascending channel zig-zag pattern. It has retraced 50% from its 2nd April...
Hi traders. Following the turmoil with oil prices falling globally as demand for oil weakens, I am planning on purchasing shares in certain oil firms. One of these firms include BP. As oil prices are dwindling down, I would expect the earnings report released towards the end of April to be terrible news for the firm. Thus, I would ideally buy shares at low...
With the corona virus situation going on, we know a few things for sure. 1. That is manufacturing has slow down globally = Low demand. 2. Russia Vs Opec on who can produce more oil = High Supply. these two things are a disaster in progress for Crude and it will continue to be unless this corona situation get under control. a lot of people are like, OMG CRUDE...
I have been following a key reversal in BP. It is following crude and it is following a direct path towards the 3/5/20 Opec meeting. I would say a near term price of 36-38 is possible.
BP is steadily going down. the market is coiling within a falling parallel channel and it looks like 440 level will be reached soon. analyzing the structure on the left we can see how important this level is for the market participants. for this reason, we can expect with you a bullish reaction from this level. our initial target will be the resistance of the...
Bought 35.5 calls feb 20 @ 0.45 avrg price just before close monday 3rd. Calls currently @ 2.20 (06/02/20 00:42 GMT) thoughts that lead me to call BP would be up on earnings - 1. Higher production correctively offset negative effects of lower commodity and energy price structures. 2.Final purchase instalments of BHP (LON) circa April, likely asset flow from...
BP has a triangle pattern forming and is looking bullish. Entry 488 Target 512 = 5% or 24 points I'm expecting another bounce off the trend line before it breaks but Brexit may say otherwise.
BP breakdown out of its megaphone pattern. The backtest was unsuccessful. However, a strengthening '£ vs. $' might encourage it higher. Worth watching.
Pound broke below trendline. It completed large corrective structure. Could tag the former low below 1.20. Entry order sell 1.2438 Target 1.2000 Stop 1.2513
Just throwing some lines on BP (BP.) and it is clearly trending downwards over 20 years. I have been checking how various stocks were affected by the 2009 crash. BP experienced a sharp correction in Oct 2008 and June 2010. However feb 2016 was another low point. This forms a preety much parallel gently downward sloping channel. This is indicated as reference for...