Candle on Friday was tell sign for a pullback after a great run up. Looking for a pullback to prior resistance that we broke out of that we probably need to backtest. 230 area then re enter there.
After almost 7 years of bearish price action, oil services will be essential in the transition to electric vehicles and clean energy. Most automakers are shooting for 2025 to have an entire EV fleet or mostly EV fleet. That's a 4-7 year runway for a bull run; assuming that it will take time to transition and for all automakers to be on the same page. Freight and...
Will WTI and HP both complete a flat correction? or continue to pump with the algo traders? Please like and share if you appreciate this market update. We are algorithmic traders and certified Elliotticians. We publish Elliott Wave counts for indices, stocks, cryptos, commodities, VIX, DXY, in weekly, daily and 4-hour timeframes. We also answer all our questions...
Now that we cleared that little resistance area of those 2 spots...we're off. nice price action. Volume is up as well. have a little resistance coming up then other one right after. not a whole lot of resitance on this asset.....when oil is 80 a barrel this stock is usually over 700.
Monthly view......OIH broke out a few of months ago. spent the next two months backtesting the last month resumed the uptrend. the 618 retrace on this pattern is over 700 dollars. Possible 3x. Tom Lee of fundstrat is calling for 700 plus as well. Might take some months to get there but could be a good one if oil stays at this level or higher.
They're saying the biggest demand for oil in history is coming as the world opens up. this just broke out of a supply line that it's been under since 2014 ! was 1100 dollars then !! Possible 3x if oil hits 80 a barrel.
Please like and share if you appreciate this market update. We are certified Elliotticians and publish Elliott Wave counts for indices, stocks, cryptos, commodities, VIX, DXY, in weekly, daily and 4-hour timeframes. We also answer all our questions regarding Elliottwave! Cryptos are updated every day of the week and on Saturday, if necessary. Traditional assets...
Please like and share if you appreciate this market update. We are certified Elliotticians and publish Elliott Wave counts for indices, stocks, cryptos, commodities, VIX, DXY, in weekly, daily and 4-hour timeframes. We also answer all our questions regarding #Elliottwave! Cryptos are updated every day of the week and on Saturday, if necessary. Traditional assets...
OIH is the Oil Eq and Services ETF. Just triggered another 50-day MA bull signal this morning. Last time was in January and set off a 75 pt run.
OIH is the oil services ETF. Oil plays have been breaking out in a big way as the sector takes over a leadership role. But these stocks are still way below their 52 week highs, unlike most of the market. As oil ramps higher, we will have to start investing in oil production or risk a scary squeeze in oil. OIH holdings are the beneficiaries of this worry.
Oil prices not going down until DXY says so. We could go up for some time if DXY follows its red path! Please like and share if you appreciate this market update. We are certified Elliotticians and publish Elliott Wave counts for indices, stocks & ETFs, cryptos, and commodities, in weekly, daily and 4-hour timeframes. Cryptos are updated every day of the week...
The poor slope suggests we are ending a C leg. WTI (and DXY) will decide which side we go though. Here is the count I posted last year Please like and share if you appreciate this market update. We are certified Elliotticians and publish Elliott Wave counts for indices, stocks & ETFs, cryptos, and commodities, in weekly, daily and 4-hour timeframes. Cryptos...
Please like and share if you appreciate this Elliott wave update. We are certified Elliotticians and publish Elliott Wave counts for indices, stocks & ETFs, cryptos, and commodities, in weekly, daily and 4-hour timeframes. Cryptos are updated every day of the week and on Saturday, if necessary. Traditional assets are updated on Monday, Tuesday, Wednesday and...
Beautiful count in FTI. One more low coming. Will RIG, HAL or NBR follow?
Inverted Head & Shoulders in RIG Before A Phenomenal Pump?
CLR (W) / Bullish Elliott Wave Count
HAL (2H) / Bullish Elliott Wave Count