On April 11, a fresh STEO report comes out, so you should wait for the updated forecast for the oil market from an official source. Conclusions on this report will be published in the blog www.cofutrading.com. But at the moment the situation is as follows: OPEC reduces production, and the US increases it. But along with the growth in production, which is...
United States Gasoline Fund Testing Rising Channel Support and downtrend resistance with FIBO levels
Crude is hitting some support as it come close to the (blue) up-sloping trendline at around 43. Additionally the 200 day MA is right around that area. We are oversold in terms of Bollinger, RSI and Stochastik, with the Stochastik generating a buy signal Should the market break, targets on the downside at 39, 35 and contract low at 26ish.... Option idea: IMHO...
Gas popped on the news that a line caught fire in the south of the US. So notice how the news event negated any sign of the B3 Weeklies study working. As price capitulated and calmed down, the levels in the study regained validity. The support has held and 1.4719 mean is the target. R:R 1.5 to 1.
Sell NG following sliding curves at 2.80 level and below. Bullish popping looks as a result of non-commerces' short positions covering and technically as a C-section between top-down curves. Currently is under control below 2.88 level .
here is my next Idea I will share, just waiting for the price of this pair to migrate into the purple colored area, after it does, will take the trade when is leaves this area back to the middle of the chart. if we come out of the bottom back towards the middle will be going long RB contract with 30 plus days to end of contract term, and shorting the CL contract...
Slowly but surely climbing. Building base and support line. Buy for Long term hold but resistance may be the BLACK SOLID LINE. The below Solid green line will act as support but if fails then Bear Market.
Expect the bullish trend we are in to slow down as we run into resistance areas Upward sloping support line active. Look for 9 day and 20 day MA as target for pullbacks
Watch the lines for a place to jump in on this downtrend of the Equity/Crude ratio.
Oil has an oversupply problem so it may not go up as much as some of the other commodities, but it should still go up because USD will go down more.
I'm waiting for confirmation bar to entry a short position. Negative indications are starting to appear.
Wait for the 4 HR candle to close above 0.236 fib level to execute long trade. Confirmations : Retest of Daily Trendline, ABCD Formation, Monthly Hammer Formation Complete Bullish Setup, Risk Reward trade (1:4) Happy Trading :D
"Rickshaw man" reversal candle appeared on monthly time frame right at the target of broken down Ascending triangle. Price can pullback to break point at $2.5 level. It's healthy move and technically good to watch where the pullback stalls.....then if stopped at or below triangle's support just short it! Lucky and intelligent trades - put stops!
IF A COMPANY HAS CONTINUED GROWTH IN A CHANNEL WITH FLAWLESS STRENGTH AND A NICHE MARKET FOR A PRODUCT USED AS NECESSITY IN AN ECONOMY STRUGGLING TO FIND PRODUCTION YET PRODUCE OIL AND GAS WHICH IN TURN GASOLINE RISING AT THE PUMP AND CORN BASED ETHANOL OUR ATTEMPT TO GO GREEN IN A DIRTY BLACK FOSSIL FUEL LOL. THE GOVERNMENT MANDATES A PERCENTAGE IN EACH GALLON...