I'm still following the direction of AMEX:GUSH . Given today's initial drop back into the range I was following, I am wondering if this is a new price level for consideration. I am still long oil, but there may be external factors that are worth considering as well. Of course, beyond April, I do not expect to remain as confident is upward price movement in...
So, AMEX:GUSH hit the level a bit sooner than I thought. My thinking is that we'll play around here for a bit over the next few weeks. I expect the market to begin to 'price in' what is to come in April as production increases in Russia, etc... However - thinking you know which way we go from here with absolute certainty is playing with fire. :)
After an almost comedic OPEC meeting today, we were on our way higher with the prospect of continued tempered production. At least for a month or so... By May the spigots would be expected to be opened up again. (Russia will increase production in April) However, I'm guessing that the tech troubles and Powell speech today shook it all up a bit. I'm still liking...
Surprise increased inventory levels published today. Our Crude trend is up, but with OPEC meeting coming up where it is anticipated that production restrictions would be eased. Does our upward trend continue? Here We are using AMEX:GUSH
This is LEVERAGED. Cup and handle has broken out. Probable pull back inside the bands, or even to the MA (moving average, red line and this like will be moving with price as will the bands) as price has pierced upper trendline of Bollinger Bands set on an 80 moving average. Resistance overhead from previous gaps down. Small cup within a larger cup. HL (Handle...
Beyond it is inside a bullish path, I think all conditions indicates a short correction period. What do you think?
Looks way maxed out. I bought DRIP a bit early at 15.33 or something and failed to sell it when it dropped (when OIL spiked way up) - DRIP went way down to 13-ish and is now going back up). At THIS rate, if GUSH goes to the bottom line - $18 - why wouldn't it, it was just there a few months ago (-71%) - DRIP will go UP 71% (maybe) - which would be $24.76 (why...
FUNDAMENTALLY: 2.17.2020 GUSH was closing at 690.00. COVID obviously lowered oil prices due to restricted travel. Travel is soon to be back on and oil will be demanded. The current prices of 67.76 is soon to become very undervalued. Warren Buffet's Berkshire Hathaway recently dropped 4bn on Chevron (CVX), an oil corp. TECHNICALLY: The patterns (shown above)...
See Chart for details and GL. Opened 2/19 52C's at market open
Inverse head and shoulder- breakout here has crazy potential, see the huge gap up from the March sell off above it. May get rejected too.
I'm currently short on Oil by shorting GUSH and longing the inverse DRIP. Besides global economic uncertainty, the markets are still showing weakness and not showing any signs of recovery. Also on the 2 day chart, every death cross or green dot shown on my indicators has always resulted in a massive dump.
Or it can run soon, difficult to time...
Might see a short-term jump here . Just an idea. This oil pump could reverse in a flash with bad vaccine or lockdown news.