USO while the middle east, the Houthi rebels and the Suez Canal shipping quagmire affect oil liquidity globally and prices at the pump continue to be volatile the federal government seeks contracts to restore the national strategic reserves depleted in the last supply demand challenge while the presidential and congressional election cycle starts warming...
USO follows the futures prices of oil barrels. On this 30 minute chart, price falls have been rejected by the POC line of the volume profile and the Lux Algo Donchian channel has transitioned from downgoing to trending up. The dual TF RSI of Chris Moody now shows RSI holding above 50 in both the 15 min and 60 min TFs. Net distribution has bottomed out and...
UCO is shown here as a one month trend - It is sitting on the rising support tendline about 2% below the recent high. Oil prices contribute to inflation. Anyone in the USA is aware of gasoline prices at the pump. Geopolitics plays into price. At present, US Navy warships are consuming refined oil and heading to the Middle East. Iran and Russia are sanctioned...
Breakout was a success and we saw $80s for a good moment there. Plenty of time to have taken any profit on any positions I had. The pullback in between also happened according to the bar chart. Let’s see if the rest of my pattern can make its way through into a plummet for late May.
Continued from previous post. Breakout possible. Wait for pullback into the wedge. Stop on Calls would be below the Box. 4/19 $70 call could pay well if the breakout occurs.
Compare said time frames and you will see the similarities in RSI and MACD although if it fails, new lows could be on the way. If a B/O occurs , look for $100 sooner than later. Will revisit later. I will attach the next post to this one for continued reference.
looking at oil etf at the 3m with trendline and key resistance at play
... for a 64.51 debit. Comments: IV of 32.3%. Selling the -75 call against a one lot of stock to emulate a 25 delta short put with built-in short call defense. Metrics: Cost Basis in Stock/Break Even/BPE: 64.51/share Max Profit: 1.49 ROC at Max: 2.31% ROC at 50% max: 1.15%
First of all before I follow the trend I check what kind of trend is this, soo that is gonna be easy for me to get into position, US Oil is a down trend market however a down trend market does goo up n down, soo there is a short buy to 91 n 105 coming weeks before another leg down, before you can analyze find trend always, investing n trading is going to be easy n...
Watch as Oil attempts a Breakout. Careful as jt effects inflation
Refer to a previous post. Breakdown has begun but I suspect a gap fill before a follow through. POUNCE on the gap fill for a swing $70 3/15 Puts High.
AMEX:USO Headed back to the 50 day. Really quick. Will continue watching to see if we hold $69s or break lows. I'm expecting the pullback to resume after a quick stall at the 20day sma. The giveaway that helped pay last time was the rally above the death cross. That first rally is usually bearish as noted in the chart posted. Fast forward and we have the same...
Looking to sell 60 strikes on USO out to Jan 19, 2024. That's 1 deviation down and about 45 days out.
This grabbed my attention because I had a notification in my calendar for today with the stock FTI possibly scheduled for a move up. It's some oil stock my dowsing chose in November along with the stock TTI, but I'm not doing an idea on that one. I did do FTI. So to confirm bullish in FTI, I check USO and it's very consistently bullish. I feel really good about...
Trading Idea 1) Find a FIBO slingshot 2) Check FIBO 61.80% level 3) Entry Point > 69/61.80% Chart time frame : D A) 15 min(1W-3M) B) 1 hr(3M-6M) C) 4 hr(6M-1year) D) 1 day(1-3years) Stock progress : A A) Keep rising over 61.80% resistance B) 61.80% resistance C) Hit the bottom D) Hit the top Stocks rise as they rise from support and fall from resistance. Our...
The methodology shown here is what I call "Time@Mode" because of a pattern of counting the number of bars at "the mode" of a trend and using that count to project the time of the move out of that mode. I found the pattern by plotting charts by hand back in the 1980's, but fine-tuned here at TradingView with the powerful charting and tools available to us,...
The idea was that while US Oil is not directly affected by the tensions in the Middle East as most of it is domestic consumption, what portion of it that is exported does not go through the Suez Canal but rather across the Pacific to Asia mostly. The idea was expanded by no matter that, the Middle East quagmire affects global oil prices all intertwined. The...
USO, looking to be forming a double bottom within a double bottom off a long-term trend line. Personally looking for its reaction in the 72-73 range before any further assumptions, but if this gathers steam, I could see this reaching 76. This is important for the overall inflation narrative, with energy being such a large component of the CPI.