I've been watching OIL for a while now. I think the time is now to get on board. Keeping it simple. The cycle timing is right. The MACD is above zero, the PSAR is positive and the long term trend line is broken. Putin meets with OPEC today I believe. I am buying OILU instead of GUSH because the markets keep selling off, which could drag GUSH down despite improving oil prices.
Note
Low risk entry here, OIL has returned to support. I'm thinking crude is a low risk by here. We are back at support. Notice how the blue arrows hold the stock price. I don't think it will go lower. If it does, little cash lost, get out below the blue line. Notice how the red candles have changed to green? Usually they stay green for a while. Notice how the MACD graph is heading above the zero line? Bullish. I bought the leveraged ETF OILU.Trade closed: stop reached
Stopped out of this trade when OIl broke the box lower!Note
I believe we are at long term support and starting to move higher. I'm looking to buy OILU today.Note
OIL is in the consolidation area, lets see if it keeps moving higher. Trade closed: stop reached
Sold my OILU this morning. Will by back after the pull back. 28% nice trade.Note
Got out too soon........
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.