Long BP againBP now forming higher low, oversold signals. DXY weakening supporting equities, long here stops below the lows
BP
The Ski Mask is on......BPNo way this doesn't test the resistance. Strike price $25ish. Financials are slowly improving and are shifting to focus to renewable energy. I want to read more into the management team but let's see what happens.
What do you think?
BP - Range BoundBP bounce off key support created a opportunity to buy on the pinbar candle off support. I waited for the pin off and retest of support for my entry, this is the most conservative entry on a pinbar setup. You can enter at close of pinbar to aggressively enter the market. I waited for confirmation of TRND Bot buy signal! Clean charts = Clean profits! Long calls to $25.
If you like this idea follow for more and hit that like button! Good luck! Trade smart! Cheers!
$BP ready to break the resistance $BP ready to break out the resistance. The first target is $22.33 and then if it breaks this line, $24.40 is next target.
Long BPOversold, on lower trend line, building positive divergences, final drop to flush weak hands ? Long with stops below the lows, good risk/reward.
Crude oil recent ascends meeting roadblock aheadThe recent breakout made by the crude oil may excite buying opportunities to some. For how long it will last will need to be seen if it could penetrate several layers of resistance ahead. This week price action was not powerful enough to sustain the move. Catalyst and sentiment that could influence the price action not supporting the move too, as energy giants such Exxon Mobile (XOM), Chevron (CVX), BP and Royal Dutch Shell (RDSA) giving cautious forecasts on the price projectile. Nearly all of the energy giants viewed the price of crude oil will only top $60.00 a barrel by 2026/27.
Next week, OPEC+ will meet from Monday to Tuesday to decide on the current crude oil production output, which at the current pace produced a limited volume to stabilize the price.
LONG BPExpecting bounce from extremely oversold weekly and daily levels. If stop breached, be prepared to catch new daily reversal on lower levels with a tight stop.
LONG BPExpecting bounce from extremely oversold weekly and daily levels. If stop breached, be prepared to catch new daily reversal on lower levels with a tight stop.
Bull or bear....time will tellI adjusted my count due to the price action that we had from the beginning of June and proposed another setup which can be in play if the price action fallows. Of course we can take in consideration the fact that we can see much higher prices before a correction will fallow but it's less probable. All i can say it's that the price action and the pivots that we fallowed are technical and gives me more conviction in the current count.
Price Performance of 'Big Oil' this yearIt has been one of the most dramatic years for oil markets ever. From demand destruction caused by the coronavirus to the Russia-Saudi price war to US crude prices turning negative.
What does it all mean for the oil industry and ‘Big Oil’?
## Saudi Aramco and Sinopec are not traditionally part of ‘Big Oil’ but they are huge global players worthy of being listed.
BP cup and handle pattern, bullish, go long.Hi
Cup and handle formation developing on BP Take profit around the yellow line.
It's a bullish chart formation.
Alex
BP Summer loving?Despite the gloomy oil industry news overnight BP didn't shift from its current low. For the past 20 years it has been range bound in a sideways channel which it dipped below on the 20th March. Historically a dip outside the channel has lead to 50% increases to the median line in an ascending channel zig-zag pattern. It has retraced 50% from its 2nd April local high and remains in the channel.
But is this normal times? What will drive the demand for oil to get dig it out this time?
I'm looking at around 430.00 for a take profit by September this year or get stopped out in the very near term and re-assess.
Time To Buy BP Shares Hi traders.
Following the turmoil with oil prices falling globally as demand for oil weakens, I am planning on purchasing shares in certain oil firms. One of these firms include BP. As oil prices are dwindling down, I would expect the earnings report released towards the end of April to be terrible news for the firm. Thus, I would ideally buy shares at low prices, to ride it on the upside wave as the market recovers from the pandemic. Entries from the lows made from during the pandemic could prove to be extremely profitable in the long term.
This is just technical analysis . Do not follow this trade blindly!
If you managed to read it this far down, thanks for reading this! If you could, please do offer your ideas & perspectives on this pair. Buy or Sell and why? Additionally, drop me your charts for it, that'd be great so I can see where you are coming from.
Please drop a follow! I need reputation points!!
Short Crude at $26 areaWith the corona virus situation going on, we know a few things for sure.
1. That is manufacturing has slow down globally = Low demand.
2. Russia Vs Opec on who can produce more oil = High Supply.
these two things are a disaster in progress for Crude and it will continue to be unless this corona situation get under control.
a lot of people are like, OMG CRUDE never been so low, and it won't stay this low.
WRONG! IT has gone this low before in 2016, and it has loss more than 70% during the last economic crisis in 2008.
Unless the coronavirus situation improves and all the lockdowns are lifted,I don't think oil has much chance of recovering yet.
There could also be a lot of shale oil stock getting absorbed and bankrupt this year just like in 2016.
If you guys see a weak shale oil company to short, feel free to comment.
Short Entry $26
Short target $20
Stoploss $30
BP: Possible Key Reversal - Target $37I have been following a key reversal in BP. It is following crude and it is following a direct path towards the 3/5/20 Opec meeting.
I would say a near term price of 36-38 is possible.
BP Plc (BP.) Close To Key Support Level
BP is steadily going down.
the market is coiling within a falling parallel channel and it looks like 440 level will be reached soon.
analyzing the structure on the left we can see how important this level is for the market participants.
for this reason, we can expect with you a bullish reaction from this level.
our initial target will be the resistance of the rising channel
and our second target will be extended to 486 level.
good luck!
please, support the idea with like! thank you!
BP Earnings call fundamentals Bought 35.5 calls feb 20 @ 0.45 avrg price just before close monday 3rd.
Calls currently @ 2.20 (06/02/20 00:42 GMT)
thoughts that lead me to call BP would be up on earnings -
1. Higher production correctively offset negative effects of lower commodity and energy price structures.
2.Final purchase instalments of BHP (LON) circa April, likely asset flow from said deal is starting to take full effect on their books; consequently, boosting overall output even further.
3. Most interesting point (at least to me) and one of the main fundamental drivers, ROSN (LON) trading volume spiked from 261m value traded December to over422m in Jan, which consequently is the largest in over 10 months. BP owns 20%, so for me this was a major indicator; suspect even higher cumulative output to again offset the falling prices in the quarter.
Didn’t post on TV at the time but for proof I called Monday reference reedit post under KykoKata.
> next target area around 40, second 45.
Long BP for 5% - Triangle FormingBP has a triangle pattern forming and is looking bullish.
Entry 488
Target 512 = 5% or 24 points
I'm expecting another bounce off the trend line before it breaks but Brexit may say otherwise.
BP BreakdownBP breakdown out of its megaphone pattern. The backtest was unsuccessful.
However, a strengthening '£ vs. $' might encourage it higher. Worth watching.
