OASJust a thought, same scenario as Whiting Petroleum after Chap 11 was announced. I remember b c I traded WLL many times from .32c-$3 B4 finally the shares were reissued and investors got F**ked.
Shaleoil
WLLWhere's all my Whiting bulls at? I know you guys made me famous on TV & now you bull r thinking Im all bearish en shit. But I say no I'm just waiting for this bottom TL on my triangle to be tested. I have had much luck with my wll triangles in the past. I mean when I set a bid on that Triangle BTL it has been filled 100% of the time and then WLL kabooms back over $2. So I'm going to stick with that plan and buy WLL .70c. Who's with me?
A stop loss below the TL is amazing r/r so .60c is risking .10c per share to make over $1 per share seems like a sweet set up to me. Like & Follow
OASLooks eerily similar to WLL, just bulls have been trying to send the price up, which I noted on the chart under the RSI comment. I think WTI is heading back to $20 Fam, maybe not in a straight line but I think the WTI price is showing weakness and all the shale Companies are showing signs of that weakness
oas#OAS update proceed with extreme caution, could be a small bounce off the TL if u buy use a tight SL set right below that BTL.
WLLLooks to be forming a mega phone here. Please review my WTI & OAS analysis. Attached to this post
$MRO Oil is set for a pull back...Gap UP TWICE!!Does anyone see the issue with this?
Gap UP TWICE in less than a week....
in a very overbought state can only
mean one thing.....right??
WLLI am loving this chart here guys, I did a fractal from 9/2017 support up to resistance on June 2018. This channel has been established since 2016 and if my chart is correct WLL
should make a run to re-enter the channel. Even if WLL fails to get back into the channel the upside is massive and there is almost 0 risk. If the oil market does in fact turn down towards $10 (which I don't think is happening) then I will probably buy another 1k shares worth and keep my LT TP for $15, and probably $32. Not sure if WLL can beat that but they FA is solid with over 500 mil in cash reserves 1.5 bil sales
and only 98 mil shares outstanding.
In conclusion I stay bulls on OIL, Uranium, very big bull on LITHIUM, Silver and TP on WLL around $16 Fam
WLLZoomed in on WLL we can see that downside risk is very limited and upside potential is epic.
The 200 EMA 4 hour is at $4.34
200 EMA D1 is at $8.55
Price gaps from $28-$26
Price Gap from $26-$24
Price Gap from $14.67-$13.56
52 week high $31
Oil storage facilities will at full capacity by June if OPEC doesn't make supply cuts.
Descending Triangle top line being tested repeatedly. Break out seem more likely.
My bias is that the bankruptcy filing is already priced in along with the crash in the oil market. The price of this stock has been destroyed and as we already know smart money gets out way b4 retail. So the dump from $60-.29c is in my opinion proof that all these events are in fact priced in.
Oil Drops to 4-year LowOil fell to a 4-year low as Saudi Arabia launched a price war on Saturday with the announcement of plans to increase oil output next month, looking to boost total output above 10 million barrels a day. This will be the largest reduction seen in oil price for foreign markets in 20 years.
www.bloomberg.com
This comes as China, the #1 importer of foreign oil, ended 2019 with a 9.5% yoy increase in demand and a 17th consecutive year of record oil imports which equaled 10.12 million barrels per day in 2019. Chinese oil demand in 2020 has since fallen off due to nationwide quarantines as the impact of the coronavirus continues to take its toll on China’s economy as well as overall global economic activity.
www.reuters.com
This monthly chart shows oil falling below a 4-year support level(blue dashed line) to a low of $41.28 on Friday, a decline that is expected to continue when global markets reopen tonight.
The red lines indicate a potential downtrend channel in play, created by connecting the two upper price peaks and extending a parallel line below from the December 2018 low.
The yellow area indicates the level that oil price-per-barrel is expected to reach which would put price back to late 2015-early 2016 levels in the $25-$33/barrel range which equates to a -25% drop from current price. This yellow area stems from a previous level of support/consolidation dating back to the early 2000’s and marked the bottom in oil prices during selloffs seen in 2008/2009 as well as during the 2015 decline.
This is expected to hit US shale producers as oil-and-gas companies have more than $200 billion of debt maturing over the next four years, $40 billion of which is due in 2020.
www.wsj.com
According to the Dallas Fed Energy Survey, average breakeven prices in the U.S. range from $48-$54 per barrel which is well above the current price of $41.28.
www.dallasfed.org
