USO: Down Down! ↘️↘️↘️We are expecting a decline of the USO until it reaches regions around $53.08. Here, a turnaround is expected and the price should rise again. In total, we see the market move towards areas above $65.65.
Oilyyyyy!
USO
An Impulse of Intuition, An Ideal time to Sell your Oil 🛢️⛽🖼️Perhaps the seed of Charting Rbob Gasoline Earlier.
This Black Gold stuff is a slippery liquid.
Oil seems to be stealthy making lower lows &
perhaps about to make a lower high.
Have to be slick to market time the ole WMD.
*Short ideas are SELL ideas only, don't support outright short selling.*
Peek the detailed breakdown notes
in the high def chart links below :
TVC:USOIL
AMEX:USO
LSE:PBRT
NYMEX:CL1!
TVC:UKOIL
NYMEX:BB1!
Crude Oil WTI - long term breakout suggests a $100+ targetCrude Oil is attempting to break out of a long term resistance. Target is between 100 and 140$ per barrel
Transocean Ltd. - turnaround story with 10x+ potential (Inv.H&S)Transocean Ltd. is shaping up to become a massive turnaround story with great upside potential.
Youre betting on sustained higher oil prices here.
The stock is still selling on cents on the dollar from its last high in 2008.
United States Oil Fund USO 60 - 65See USO potentially setting up for a move up to the 60-65 area. might add some in this micro correction, but more looking for the breakout over 51.25 as my buy signal.
more bearish under 48
not financial advice
CL - Wedging out for Break Crude Oil remains in a Weekly SELL, Resistance continues to hold
overhead after reaching our 7061 TGT.
With the DX gaining strength, CL will come under pressure.
Price Objective - 67.68
USO: Bearish Formation! 🐻🐻🐻We still have plenty of room left on the downside within the USO chart. Our expectation centers around the assumption that the price will drop to around $41.29, before taking off and pushing towards $59. However, we need the price to stay above $39.27.
Happy weekend!
Has Oil's uptrend come to an end?My short answer is no. Oil hasn't peaked yet in my opinion, although in the short term it might chop between 63-77$ before a big breakout. As OPEC+ has decided to increase production, we might slowly see the effects of that + there are some general deflationary pressures like new Covid strains and endless lockdowns that might push oil lower in the short term.
However in my opinion due to the ESG movement and the climate change proponents in general, the underinvestment in oil + forced production cuts due to protests might limit supply so much that if demand slowly increases the price of oil could skyrocket.
Technically Oil is still in an uptrend and its more than a decade long bear market has come to an end. Speculators were flushed out but oil has manage to hit some key levels which if broken might attract more speculative capital in the market. Above 77$, 90$ is a very easy target and we could see it go even to 100$+. In the short term if there is a panic across all markets and we get a strong dip everywhere, I think oil could get to 42-55$, which in my opinion would be an incredible opportunity.
Oil around 50$ is ok for allowing for more global growth, but it is also signaling slow growth. Low oil prices could translate in lower bond yields which would mean deflation which would allow the status quo to remain.
USOILPotential Long move in USOIL, Based of an indicator I cannot show you on tradingview unfortunately.
Stocks - Big Oil EarningsIdea for XOP:
- The reflation trade is dead - just a reminder:
- We saw big tech earnings in a (growth) deflationary environment:
- Now it's Big Oil earnings time.
GLHF
- DPT
USO - bearish double topOPEC + just agreed to increase output until 2022, Gasoline stockpiles build up more than expected EIA report July 13. Look for bear flag to form on 4 hour. PT .618 Fib level or 47.75. August - Usually refiners shutdown and that means build up of inventory. The only bullish case I see, if there are major hurricanes knocking out supply in Gulf of Mexico. I am in 8/20 $48 puts at 1.5, current 4000 OI. Good Luck this week!
USO: TurmOIL!🪔🪔🪔The discussions at the tables at the OPEC+ conference do not end, and it shows. We expect the course to drop for quite a bit now. In total, the correction should end somewhere between $41.29 and $39.27, before new bullish runs set in. Once that happens, prices above $59.35 will be targeted.
Let’s go Bears!
𝗢&𝗚 𝗨𝗽𝗱𝗮𝘁𝗲: $XOP Weekly. ~99 Resistance HoldingResistance ~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 🛢️
WTI short term bearishOn the 1 hr TF we see that
MACD crossover, possible HS, bearish volume continues to build
RSI continues to get LL
Pressure on top BBand
Confirmation of downward trend if responsibly passes 74.6 S1
Target1 73.74,
Target 2 VWAP 73.5,
Target 3 Bottom BBand at ~72
Short term trading, no long term holds.
Note: yday OPEC meeting still inconclusive - can have impact based on outcome.
USO: Waiting for the next entry! 🤠🤠🤠From the current level, we expect the USO to fall all the way down to prices around $40.56. Once in this region, the next bullish run should bring us close to $60. However, with the bullish price development of the oil market, there is a 45% chance of an early bullish breakout.
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$USO Set for Fresh Insights as OPEC+ and Delta Meet on ThursdayOil has seen quite a bull trend over the past year. But one might suggest it could see more if policymakers are unwilling to ramp production given the specter of Delta Variant lockdowns that may never appear. We may find out more when OPEC+ meets later this week.
Jacob's Trouble - IZRLModel Forecast for ARK Israel Innovative Technology ETF:
- Tribulation and Desolation awaits.
GLHF
- DPT
Don't get PLAYED by Big Money: Inflation Trade Over?To trade the markets you have to be AWARE of the world and what is going on. We have to read the news every day but we should not always take what people are saying at face value. The news is never a leading indicator but it can at times be an INVERSE indicator. Don't get played by big money "talking their position" ...
In this video we look at examples of the last two years when the media hype was the OPPOSITE trade to take for...
AMEX:GLD
AMEX:USO
AMEX:SPY
NASDAQ:TLT
Wyckoff Distribution - USO US Oil (S3)Idea for USO (S3):
- Wyckoff Distribution mapped.
- Wave frequencies synced.
- EURUSD drops... USO will follow.
- Cause and Effect Objective met.
- Law of Effort: Exhaustion gaps being formed, clear distribution pattern, negative divergences and losing the momentum.
- Speculate that the Cause and Accumulation was relatively short in this case, as Oil went negative - Operators had little time to accumulate, but had to take the opportunity during overwhelming demand.
- Currently in UTAD. Sell-off, SOW > Capitulation soon.
- Good time to enter with moderately bearish position.
GLHF
- DPT
dusk before the dawnI 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?"
