OIL may rally soon!AMEX:OIH may see some bullish momentum soon as geopolitical tensions get worse daily.
OIH trade ideas
Bullish on OIHI am bullish for the rest of the summer on OIH.
Energy prices and demand always rise in the summer.
The technicals all look bullish, we've been riding a steady uptrend for about a year now and we are the point of breaking out of the lower value area and moving back up to over 400.
Currently price sits at the 618 coefficient on the most recent swing hi-lo using fib retracement.
Know Sure thing appears to indicate a movement to the upside. I see continued strength here unless some kind of sudden influx of oil floods the markets and demand destruction occurs, but I think oil is priced just right to continue higher at the moment without fear of that.
FUD is spreading more and more around the world every day, with BRICS, and the idea of world war 3 in the air will lead to increased energy prices. After all, energy is everything.
Without energy nothing else can be.
OIH: One Last Climb 🧗The OIH is currently working on green wave 2, which should extend to our same-colored Target Zone (between $335.63 and $353.32). Within this range, the price should complete a reversal and then gradually trend downwards. This Zone can therefore be used to open any short trades. Stops could be placed 1% above the zone. The end of the orange wave III should only be reached below the support at $250.69.
OIH: Keep Going! 👏OIH is on its way toward our green Target Zone (between $$321.09 and $339.97), nearing the last local high from the end of January. We expect the ETF to arrive in said Target Zone during the orange wave ii before the orange five-wave downward structure should continue, ultimately concluding below the support at $277.30 (but still above $250.69). Still, there is a 32% chance that the orange wave Alt.ii has already finished without reaching our Target Zone, which would be confirmed by the price dropping below $277.30 earlier.
OIH wave 4 of 5 of 5 wave structure The chart posted in the OIH tracking etf We should be seeing the last of the selloff today and see a rally back to 333 within 2 to 4.5 weeks and then see a drop and pullback from .786 to a minor new low from this point I would be looking for a 95 PLUs pt up move to above ALL the tops and then A panic of DEFLATION back to a .618 from the 2020 panic low I am now 100 % long uso amd oih and have orders just below today prints to margin 7 % and up to 15 % long I am also in options for the june and july calls as sometimes the futures see a print in pre market and options we have to wait for 9.30 am BEST OF trades Wavetimer the final peak should near march 20/april 2 2024
OIH Bottomed at .618 I have now moved to a 100 % long The chart is that of OIH etf we have now dropped into the 17 week turn and have reached .618 pullback .I would now look to be look calls and a target min 333 with the odds of a print at or above 375
OIH: Come on! 👏Since the low of wave ii in orange, OIH has already managed some strong upwards moves, but so far, it could not successfully conquer the resistance at $276.85. However, we expect the ETF to climb above this mark soon to develop wave iii in orange. Afterward, the short counter movement of wave iv in orange should interrupt the ascent, before the following upwards step should lead to the top of wave 2 in turquoise. There is a 35% chance, though, that OIH could slip downwards and drop below the support at $250.69 instead.
OIH: Rebound 🏐Impulsively, OIH has bounced off the resistance at $276.85, which now marks the top of wave iv in magenta. Next, the ETF should continue the downward trend below the support at $250.69 to complete the magenta-colored three-part movement and thus expand wave 3 in turquoise. However, a 35% chance remains that OIH could take a northbound detour, climbing above the resistance at $276.85 to develop a new top in the form of wave alt.2 in turquoise first before turning southwards again.
#Energy Firming Up#energy #oil trade firming up again.
You can play it through ETF with #OIH setting up.
I picked up $OKE on Friday. They don't get any tighter or low risk than this.
OIH Oil Equipment Services ETF about to explode soon?I have run my quant screeners and I have came across this beauty, I've made much more deep analysis and I think OIH is setup for a 20% move higher.
Cheers
OIH D1 – couldn’t hold above SROIH D1 – couldn’t hold above SR, reversed on volume.. Unfortunately anything oil related is always risky to short, and options strikes are not liquid enough on OIH
Tune In Next Week As We Enter "The Air Pocket"Monthly bull flag, just breaking above monthly 50 EMA which acted as resistence since 2014. We will confirm a continuation of the monthly uptrend if we close above $317. When this breaks, we will enter an air pocket in the volume profile between $300 until $475. The price will move back to 2018 levels very quickly. I'm trading this via ONG (2x Bull Oil Services ETN).
OIH similar to XLE looking to breakout OIH similar to XLE looking to breakout, almost after 5 years of downtrends?
Oil Services continue to be weak - Bearish pattern on weekly22/Sep/2022 06:59 AM AUTHOR: Brandon Gum
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Possible for an easy move to $204 and then $175
Only thing I am uncertain about is that price is currently at long term value. However, it did reject 2002 lows and is already down 30%.
As long as price is below value at $225 I think there is risk to the downside
OIH_LongGood day everyone!
Guess that we got an impluse up (five wave pattern) from July 14th to August 25th and now we are seeing its correction.
Therefore, expecting further growth at least to 302 with an intermediate level 282.
OIHDaily Report
Is OIH getting ready for a next leg breakout? It has been contracting for the past month. The RSI is showing a early sign of a breakout. The immediate resistance will be the 307 resistance. A full measured move will take it to 336 level.
OIH Monthly Candle Breakout11 month accumulation with a large range expansion away from the mode. My strategy to trade this was jan 2023 $285 calls for the lower premium. ATM calls are also a good strategy at a significantly higher premium so it depends on your portfolio size and the position size you're aiming for. For options I choose to never exceed 5% portfolio size per trade and I set my stop at a 50% loss (for actual stocks I don't use this rule, just options). You can trade a smaller position size but I wouldn't recommend going above 5% of your total portfolio. Even with far OTM calls, I'm already at about 13% profit since there's been some nice movement since I originally charted this 3 weeks ago. At around 20% profit I will likely adjust my stop to around 10% profit and then trail.
Rising Wedges Appearing Across Oil-based AssetsWe have a clear example of a rising wedge on XOP Oil Exploration & Drilling ETF. There is a similar wedge also forming on VanEck Oil Services ETF.
This suggests risk-off is coming to the oil markets soon.
My suggested timeline for resolution is 14th Feb. So one week away.
I strongly suggest that this may be part of a broader down move coming to oil and gas as commodities very soon.
VanEck Oil ETF (USA: $OIH) Ripe For The Picking 🍊About VanEck Oil Services ETF
The investment seeks to replicate as closely as possible, before fees and expenses, the price and yield performance of the MVIS® US Listed Oil Services 25 Index. The fund normally invests at least 80% of its total assets in securities that comprise the fund's benchmark index. The index includes common stocks and depositary receipts of U.S. exchange-listed companies in the oil services segment. Such companies may include small- and medium-capitalization companies and foreign companies that are listed on a U.S. exchange. The fund is non-diversified.
Possible opportunity in oil $OIHIf the low is indeed in, one could create a case for a bullish outlook on oil, $OIH. I personally have a bullish outlook on the Energy and Oil sector. This ETF is no different. Will update as time progress.
OIH MOVE TO 85% SHORT MARKET HEAD &SHOULDER TOP .786I AM moving to puts for jan in OIH AT THE MARKET MAJOR PEAK
