Long

USOIL: Longs are viable..

Updated

We just need to find a good entry in the daily chart, this might be a good trend to ride going into 2021.
Constructive action overall, and also a net positive for shares, solar emerging markets and others...not good for airlines though.
If this uptrend pans out, it'll end up hurting the economy badly once the effect is felt on earnings.
Tim West recently explained this very well (once again) in his publication. See related ideas.

Cheers,

Ivan Labrie.

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acquired all of Exxon's assets in Argentina and other countries in the region
chart looks decent.

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s3.amazonaws.com/tradingview/snapshots/l/lsxgDW3Q.png

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I'm long after price made a new high today: #USOIL monthly forecast will confirm after November ends

It can rally until March 2021, reaching 100.51 by then or sooner, as long as holding over 51.64

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Next target for #USOIL is a rally towards 61.47 by mid December unless prices go below 56.61

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Longs in oil and energy stocks are still viable, specially after the dip going into today's bottom.

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Terminal pattern in maybe:

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facing serious difficulties here, can't break over the Houthi drone attack key level
s3.amazonaws.com/tradingview/snapshots/a/Ai6kBtCg.png
I think until it moves over this level it will be safer to buy oversold and sell overbought rallies in oil and oil stocks.

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#USOIL has big potential here, ideally it shouldn't go back below today's open to be safe

First time over the Houthi drone attack level.

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#USOIL might be trending here, but the scale is quite large, long term charts are logical, shorter term charts present more challenges, will be good to buy when daily looks awful

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Looks good so far.

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is up since I pointed out the falling wedge pattern:

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Oil can now break away from the resistance level from the Drone attack day high...Today's move indicates we may see much higher prices indeed...
I sold half of my short term position, holding a core position for larger gains.
I'll be a buyer on short term dips as well.

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I bot back my full position in oil now:

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s3.amazonaws.com/tradingview/snapshots/t/TFC9huFd.png

Longs are viable again.

IvanLabrie

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