WEEKLY PERSPECTIVE.... 26.06 - 23.80 MIGHT CAUSE A REACTION.....LOWER TARGETS OF COMPLETION ARE STILL IN "TIME" $CL_F $USO $DWTI $UWTI $OIL $XLE $DTO $UCO $CVX $XOM $HAL $EXXI $SCO $ETE $XOP
Unfortunately, I was fiddling around so much with setups in index ETF's and GLD last week that I didn't get a chance to do a single earnings play ... But it's all good. Naturally, if volatility remains high in SPY, DIA, QQQ, and/or IWM, I'll continue to work those. However, while I'm waiting for some kind of bounce to occur to leg into the short call side of...
Oil went below 40$ in August for the first time since early 2009. It did try to mount a rally to no avail before collapsing to 26$. During this time Chevron never made new low. That is a call a divergence, a major divergence that is and that is a bullish sign. Furthermore, since its August low, CVX printed a nice impulse ( the trend ). The ensuing move looks...
LARGER PULLBACK FOR THE LAUNCH .....IT NEEDS TO CLEAR RESISTANCE , OR BACK DOWN TO SUPPORT.
POSSIBLE 3 DRIVE PATTERN FORMING ...A HIGHER LOW AND A BREAK OF THE SWING HIGH WILL CONFIRM A LARGER MOVE.
If CVX gaps up into the green zones, bullish gap. If CVX gaps into the red zones, bearish gap. I don't think CVX gaps very much at all.
Short term bounce........Watch Price Action at levels for" Trigger Entry"
Despite recent macro-effects, the momentum might be changing for CVX. Three reasons I believe this: 1) Recent Resistance set before the Aug 'Flash Crash' has been broken. 2) Momentum behind the trend has been confirmed my Chaikin Oscillator, soon to be confirmed by MA Trix, confirmed by Murray's Math Oscillator. 3) Large volume spike prior to Resistance Break,...
The Head&Shoulders on Chevron Corp is still valid, until the rejection level is breached. Although the Throwback faltered, which has sent the equity towards the rejection level, breaking out of the Neckline, will send CVX seeking 77.31, with 82.73 as a primary objective.
We saw a nice rally beginning on 9/30, but recently the price has failed to establish new highs. Further, we are seeing decreasing slopes on the lines connecting the highs which is usually an indication of a bearish turn around. The Ichimoku cloud indicates some support around $82.71, which coincides nicely with the level of support from the low of 8/06. A...
10/28/15 If CVX opens in this range on earnings- pretty bearish. If it gaps up (which I semi expect it to) it will be near some very strong resistances. If you own shares, that's a great level for a CC.
On a 1-10 , 10 being the "perfect trade" this would be a 8.1114 I like the failure of the 20 EMA on the daily. I like the volume. This should continue the trend. Target about $70
Chevron Corp is on risk to fall further on macro and micro basis. On long term basis, despite price is trading within 1st standard deviation from 10-year mean, it fell below lower 1st standard deviation from 5-year mean, risking more downside. On short term basis price is in fully fledged downtrend, trading below 1st standard deviations from 1-year and quarterly...
This is an "okay trade". R:R is decent. Target about 70. Really depends on the open of tomorrow. IF it's a large gap down, wait for a retest.
Looking bullish to my eye.
Watching to see how this plays out.
Please check out the full article here: oilpro.com The Energy Select Sector SPDR® Fund (XLE) has been battered, and it is starting to bruise. With the price of crude now just hovering $43 per barrel, this exchange-traded fund (ETF) is likely to get a whole lot cheaper. This fund has support near-term because Wall Street is discounting recent events in the oil...
Nice follow through of a bearish swing analysis.