UCO there's no working capital due to impairment
Price is ranging right now within the green box. Support looks like it should hold. There may be larger powers at be that do not want crude to fall back below $25. Decent bounce off $2.50 support. I think it's safe to assume it'll hold for now. $2.78 resistance needs to break in order to continue trend upwards. Ultimately depends on the outcome of the OPEC...
wait long burst bubble oil 1998/12 10.35 2001/11 16.7 good dramatic construction
Small swing trade idea for bull oil. This will challenge 50 sma weekly on UCO.
Prices are targeting the area around 24.11 to regain a foothold above the 21 EMA.
OIL is trending upwards, looking to see UCO break through $26 and $28 in the next few weeks or months. JUNE or JULY probably good dates to look at.
The Triple Bottom doesn't happen often, and they take a lot of time to develop!!! The set-up looks right!
Could not be more bullish on UCO call contracts. 6 month windows. Wars must be fought and cleaned up before fall, and the right call contract can pay 500x your investment..
- touch previous high, strong resistance here - harmonic pattern shows there is also resistance - 5 waves is formed prepare the trigger of short
- Rebounded as expected - going in a big B, the target is around the previous top @27.82 - not safe to buy when it opens with a gap
- clear pattern of triangle - good entry at the bottom of the triangle - set stop if it breaks downward
Bollinger Bands just springing open. Next band of resistance quite a ways off.
UCO looking bearish as it completes a short-term head and shoulders pattern and breaks the neckline and cross bottom support level. Look at PA to take price lower to around 15.25 level before considering long position.
UCO looking to break long after hitting 10 RSI (2) with PA following short-term bull channel, MACD crossover, trailing 5-day SMA and leading 200-day SMA. Classic.
Needs to have a weekly close above $17.58 to avoid that.
Ready for the next leg up. First target $17.50, Second target: $19.00