USO on the 60 minute chart is currently in a broadening wedge and reflecting down off a reversal at the upper resistance trend line. The MACD lines have crossed over the histogram and are trending down showing moving average convergence. Price is between the mean and first upper band lines and moving down toward the former. Current factors at play...
Greetings, Traders! Today, I want to share an exciting technical analysis finding on the trading pair of DRIP (the DeFi protocol) and Binance USD (BUSD). A falling wedge pattern has been identified, indicating the potential for a bullish reversal in the near future. Let's delve into the details! 📈 Trading Pair: DRIP/BUSD 📅 Timeframe: Daily Chart 📊 Pattern:...
NRGD goes up when oil goes down; this ETF tracks the oil futures ; it is leveraged and managed. Here on the one-hour chart with an Bollinger Bands and EMA bands indicator added, it can be seen that price had been trending down in two waves beginning June 1st , Upon dropping outside the BB lower line, price reversed upward to reach the upper BB line and...
As certain countries want to exchange oil for money with anything but USD such as Chinese Yen or even a cryptocurrency to be launched by US neutrals or adversaries cooperating, USO on this chart rose dramatically over the past month and is now sitting at resistance as shown by the LuxAlgo Supply and Demand Zone indicator. The RSI shows possible bearish...
The defi coin is going to erupt from here. The volume is there. Once the market turns around, this coin will follow. Drip has lots of updates and upgrades coming in March 2023. $0.37 current price. Super BULLISH!
long the bear etf $DRIP until oil hits $51ish we back to extreme market #Bayesian theory in #oil because it's decoupled as the energy storage cuz we have #bitcoin. 117-15=102 102/2= $51 keep IQ low here
oil majors will hold back new exploration and production. majors like BP turned on mega fields while prices to buy everything was cheap. they will pump their stocks now and hold back on new exploration and production and curtail current supply as required until 2024 to 2025
I have entered a leveraged (2X) short in #oil, via Direxion's Inverse $DRIP ETF. NOTE: This post shows "LONG" because I have BOUGHT $DRIP; #Oil, as the asset class - I am viewing as a SHORT. Not much else to say, other than the #oil #selloff is underway after forming what I see as a double top (see WTICOUSD) and a good risk/reward entry to short. I will...
Little updates on Natural Gas... Forming Rising Wedge - Bearish Pattern RSI Divergence - Bearish PPO Divergence - Bearish Waiting for the break of the Trendline!
Clearly there is a Bearish Divergence on XLE and XES on RSI and PPO On Weekly time frame as well, there is negative divergence Risk to Reward clearly favors Short Opportunity
Natural Gas Short Setup in hourly time frame Fundamentally also in aligns with the technical analysis Its about time and Summer is very close.
Technical Analysis $ENB for a friend looking to add $ENB as a long-term investment ENBRIDGE has been making gains and is a great Low P/E High Value Dividend Investment here is a TA that brings us into 2026 $ENB Is no doubt a safe long-term investment no matter the price but that being said in this current GeoPolitical new world ENBridge could also show some...
ANOTHER SIMPLE IDEA IF U R BEARISH ENERGY SECTOR, AT SOME RESISTANCE HERE BUT I DOUBT IT WILL BE ABLE TO HOLD IT.
Just an idea for possible long positions on AMEX:DRIP for a long-term swing. There's room for more downside, possibly to the next leg of support, as I've added by the pitchfork trendline entries. As we've not seen an actual bottom yet, it's all speculation at this point, but oil (for vehicles and shipping) is slowly being pushed to the margins; and with an...
Resistance ~99 and 200ema holding. Possible 5-wave structure ended w/ divergence. Peak $CL_F seasonality passed too $DRIP $GUSH $XOM $CVX $XLE $CL_F $USO $SCO $NG_F $UNG #ElliottWave #CrudeOil #OOTT 🛢️
I think we head remarkably lower before we break out of this long-term downtrend. The triangle will be breached eventually, but I believe the $35 target level may be in order this year before moving higher again. What will they use as an excuse for such a scourge? "Saudi/OPEC turns on the taps to fight US Shale oil market share?"
The Wave 3 we called for certainly did begin earlier this year and it looks like we're in the last push higher 📈 ... $XLE following $DRIP $GUSH $XOM $CVX $CL_F $USO $NG_F $UNG $BOIL #Trading #ElliottWave #CrudeOil #OOTT 🛢️