AB=CD Pattern on USOUSO making quite a nice AB=CD pattern. Maybe a retracement to 9.15 at 0.618 Fibo's level.
USO
CRUDE OIL "UPDATE"$CL_F Probabilities of Price.....Laying out a Premise and waiting for "Price Action" to speak.
OIL: New low eventually ahead? Seems likely to me.A couple of days ago I suggested that the recent upswing in oil may be short lived and I closed my long position. We did get a correction today. Looking at the weekly longer term log chart I believe most like we will see a lower low ahead. This is based on the two channels I have drawn and the ares of longer term support. My opinion would change if the steeper black down channel is broken. Take care. Have a good week trading.
Like in 2008.
A strong dollar and a low price of oil have both negative consequences to U.S. equities. Last time we saw the two moving in such divergence was back in 2008! And you know what happened back there. We have now lost only 15%, and I think we are roughly at half of correction.
Shorts In FavorBasic TA
$GS keep it simple
Gap Down
Break out of triangle in to Rectangle
Supports Mapped Out along with Trendlines
The Market is Fluid
Right now i see it going lower or sideways
Only Time will tell. ;)
Did get a nice jump up. Pull back next?I closed my long position just now as I am expecting there will likely be at least a short term pull back from here. We are at the center line of the down channel and have strong negative reversal in the 2 hour rsi. The real question is will the recent bottom hold. Take care. Have a great weekend. Goodguy.
CRUDE OIL :ROADMAP "PRICE MAGNET" POTENTIAL TRADE SETUP...PRICE :26.06-24.20 ...CONFLUENCE OF FACTORS
USO COVERED CALL IDEAHaving waited a long time for West Texas Intermediate to hit 2009 levels, I figured I'd put my money where my mouth was and go long USO when it did.
I filled this one earlier today:
Bought 100 Shares USO @ 10.05
Sold 1 Feb 19th 11 Call
Total Package: 9.69 debit
Max Profit: $131 (if called away at 11)
You could probably get a slightly better fill than I did, as USO ended the day at 9.90 ... .
Worth a try longing the oil no one wantsMadness..... oil holding on to $30 right now.
Make or break here, with tight stops.
OIL IDEA.If oil can hold the 32.50 level (Huge support since 2002) then I think oil can rally.
I'll wait and see though. no position other than 10 strike 2017 leap puts on $USO and 13 strike 2017 leap calls on $USO.
Ryan
Short the HOG$HOG looks a little under the weather, could be time for a tune up
markets looking to go lower and $HOG seems to want to follow them,
Time for your oil change
Shorts in favor
the market is fluid.
Could Spike due to low gas prices but i see it going lower in the overall long term.
SPY - No trade is the best trade!There is a long setup in 15 min chart in SPY!
Bull flag + cup & handle.
* I prefer to go long crude with stop below $33*
Energy sector RSI divergence. Let's make a right shoulder Later on the cloud will reject it, but we'll have a strong fomo rally prior.
