ryan-snk

ryan-snk Updated 

Oil is full of surprises so preparation is key. Demand at risk however, bankruptcies/production cuts, among other things are pushing prices up. Keeping an eye on a potential wedge forming up to $43.30 (the 50 Week EMA). If this is confirmed and it breaks up, then the fib extensions are valid as well as a possible squeeze up to the 200 Week EMA. Failure at this...

ryan-snk

On Tuesday, the Treasury Secretary and Powell are scheduled to testify about the economy. Expecting the usual concern about the short term risks followed by long term reassurance and continued support. Possibly more stimulus. Elections, Covid, and China trade news should be enough to keep markets range bound for now. For now, I'm looking for buying...

ryan-snk Updated 

As of now, expecting lots of chop within a range between $1.50 and $1.83 all Summer. Supply is abundant and demand is slow however, bankruptcies from 25-year low prices will soon take chunks out of production and demand may have bottomed already. Hot weather forecasts in high demand states (the South and Northeast) should also pop prices. Risk to the downside is...

ryan-snk Updated 

The NG god's seem to be saying a short term trade setup is looming.

ryan-snk

Oil likely to remain range bound until the Covid situation is clear. All eyes on New York. www.worldometers.info $40 is the top of the range. Somewhere between $28 and $35 is the bottom. Waiting for a bounce to start buying dips and then taking profits near the top of the range. Roni Baloni: If things aren't as bad as they seem and a daily candle closes above...

ryan-snk Updated 

Browsing the SPX, SPY and ES articles I am finding most have similar lines drawn. We all see it. The upward channel, resistance levels, EMAs, the $3,000 level, all of it. All with the same short call. I'll look for a convincing sell off followed by a bullish daily candle close to open a long otherwise, I'll be on the sidelines.

ryan-snk Updated 

Tis a glorious day at the Fed meeting. Looks like it could be time to buy dips up to the next fib target @ $1,886 There could be some shenanigans beforehand to wash out the longs so look out!

ryan-snk Updated 

+$40 seems imminent however, a pulback and some chop in a range is likely. Buying dips looks to be the best strategy. $28 floor. Alternatively, if there is a daily candle close above $40.50ish that might be good enough for me to start buying and ride the coat tails of a short squeeze.

ryan-snk

$40+ seems imminent however, looks like a pullback is likely. Alternatively, if there is a daily candle close above $40 that might be good enough for me to start buying.

ryan-snk

The NG god's seem to be saying a short term trade setup is looming.

ryan-snk Updated 

Natural Gas traders have not decided which way to break out yet. Lots of supply however, price is already low and production is expected to continue trending down. I imagine Summer heat might come into play soon but if there's any hint of production ramping back up, look out below. Breaking up: Looking for sellers at the two fib levels above. Breaking down:...

ryan-snk

Celsius projects End of Season storage to be 4141 BCF - "Single most bearish projected inventories in 25 years" www.celsiusenergy.net The winter contracts recently rallied over $3.00 and are now looking to fall into a correction. Further production cuts are looming and Summer demand approaching however, the bull scenario might not materialize until next year....

ryan-snk

Nat Gas looks coiled up to make a move soon. Breaking point looks to be the fib @ $1.83 I'm anticipating that move will be up and will take profits at the fibs above. $1.94 $2.03

ryan-snk

Oil begins it's decent into my buy box. I believe $28 will hold if it gets there - as long as there are no new surprises with Covid. I'll look for a confirmed bounce somewhere from this box before jumping in.

ryan-snk

Bitcoin bots love the fibs. Would be no surprise to see a dip into the $6,000 - $7,500 range around the 0.618 fib and 200 week EMA. However, if traders can push it to $12,000 this would be an area where sellers are likely waiting to take profits.

ryan-snk

Crude Oil finds sellers taking profits at the 0.789 fib just below the 200 day EMA. Looking for a bounce in the $36.25 - $28 range that extends from the gap down to the level where volume came in. If price can clear the 200 EMA it makes sense that the next fib level up around $62.50 is the target. (Fib Retracement from 1999 - 2008)

ryan-snk

The macro fib extension from the last major bull run are in play. High volume @ $1,600 shows where the Big Money set their buy/sell orders so this often becomes an area to watch closely. $1,600 - $1,689 block is where I'll continue to build my long position and look to sell at the next fib level up. Closing below $1,600 could change the trend but the 200 day...

ryan-snk

Playing the fib extension levels and building a position anywhere in this box of $1,600 - $1,689 Selling at the 0.5 fib extension above $1,886