GUSH Just Hit Strong A Resistance. It's Pullback Time. Possible retracement to 77-80 in next 5 to 10 days.
There is A OPeC meeting today that will release tensions and with higher demand there should be a boom soon
The general thought is this is the fifth wave of a corrective (Upward trending) sequence. Ideally, $GUSH returns to 91/s as a target w/ again (something I hate) an undefined time range: Play it w/ a position swapping; I advise skipping any additional options contracts you may otherwise have tacked on. Thrive. -BDR
While $GUSH continues to actively fail its previous trade channel, this again represents a solid LONG to 91. This could simply be a "completion of the square" w/in its previous 5-wave ascending channel. It is hopefully just that: Profit Yield still hovers near 20-25% ROI on the position swapping (a long play on $GUSH). BLOOD OR OIL
Breakout from descending channel. Looking to exit near the top of the channel unless momentum looks like it can carry it above resistance.
See chart for detailed set up w stops and tp, Also Piecing Candle on daily "bullish"
FUNDAMENTALLY: Oil being a commodity is a safe play during any bear market or market crash. The talk about a future market crash is inescapable. Post COVID we saw a REACTION, not a “crash” I believe we will now see a true market crash post COVID. Alternatively the world is looking to go green, stretching their arms to reach for greener projects. However, it’s...
Hidden Bullish Divergence on daily MACD & RSI could still be in play but GUSH would badly need to pivot here and now. A lot of confluence (Fib. level and measure move) around $109 making it the perfect target for longs. Right now it looks very much like a coin flip but recent technical breakout on crude oil gives the industry some hope. Cautious traders would look...
GUSH is really beaten down recently and since it's getting shorted heavily I expect a small reaction soon. This would complete the the triangle before another leg down. daily RSI also at down sloping support. Entry $61.90, Target: $67.99. Quick trade that should play out this week. Stop loss below $60.
Despite great TA setup with triple bullish divergence on both oscillators and bounce on the trendline, the chart now looks exceptionally bad as we broke below the trendline and continue building negative momo. Could be a buy opportunity around $40 by end of May if $60 doesn't hold next week.
Very strong Triple Bullish Divergence on the daily timescale, strong reversal after multi-week downtrend right at the well-established demand line. Oil prices could skyrocket sure to ongoing Suez Canal blockage. Safe bet. Keep in mind that leveraged ETFs can suffer from decay over long periods of time so holding this asset long-term (months, years) increases your...
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