tyler_sim

tyler_sim

Besides all averages down on the 1 hour timeframe, a descending triangle is spotted as well. Watching for that level of support at 212.50 for a hold or a break below down to 210 or lower...

tyler_sim

Will be watching price this morning for a potential breakout of the current bull pennant. Bull's favor: 1. Large buying volume recently 2. Golden cross formed yesterday 3. MACD near a bullish crossover 4. Medium-term trend is currently with us 5. Bull pole/Pennant pattern currently (15 Min) Bear's favor: 1. Negative divergence in MFI and RSI created...

tyler_sim

WTI has shown some healthy recent bullish strength from bouncing off the recent low of $39.00. However, I do see a couple bearish warnings up ahead on the 15 Min. timeframe. Bearish: 1. Large recent selling volume 2. Resistance level created yesterday afternoon at around $43.30 that price will need to break through 3. A negative divergence in both the MACD and...

tyler_sim Updated 

Thinking of paper trading FORK tomorrow morning for a few reasons. 1. Overall bearish trend 2. MFI and RSI both in overbought areas 3. Price seems to be pretty overextended 4. Just finished learning Fibonacci's and the closing price of FORK is right around that 1.618 Fibo extension area, which is also a previous area of resistance Signs against this short, that I...

tyler_sim

I am holding a short-term bearish outlook on Chesapeake Energy Corporation in response to a few technical indicators. 1. Large selling volume that occurred first thing yesterday morning. 2. Nearing a bearish MACD crossover on the 1hr time frame. 3. Possible descending triangle pattern forming on the 1hr time frame. Still a novice to identifying chart patterns so...

tyler_sim

Large selling volume on GNW on last 15 min. of the day. Trend beginning to go slightly bullish after a healthy earnings report yesterday. Apparent negative divergence in RSI formed today as well as the MACD falling off a cliff on the 15 MIN chart. Will think about entering a short position on paper if price can break through next support level around 3.47-3.45.

tyler_sim Updated 

I am thinking about paper trading a long position around this price point (2.97 area) based off a few factors. 1. Positive MFI divergence relative to recent price action 2. MACD nearing a bullish zero-line crossover 3. Of the opinion oil will be bouncing soon, SDRL should follow accordingly A few resistance points up ahead that will need to be broken through, and...