Crude Oil Falling Wedge Pattern

I've added an additional downtrend line to the /CL (crude futures) 60-minute chart to form a second, larger falling wedge pattern. CL recently backtested the smaller, previously highlighted wedge yesterday & has crossed above the larger, yellow downtrend line today, although today's breakout has not been very impulsive yet. Should this breakout start to gain some momentum to the upside, it would likely send CL up to at least the  67.24ish level & USO to around 13.58. Such a move would likely translate into a rally in the energy stocks (XLE, XOP, XES, etc.) as well, assuming the broad [...]

2018-06-07T09:40:58+00:00 Jun 7, 2018 9:40am|Categories: Gold & Commodities, Unofficial Long Ideas|Tags: , , |4 Comments

Stock Market & Sector Analysis (video)

An overview of the US stock market as well as several sectors & asset classes (stock, bonds, commodities, gold & currencies) that stand out as potential trading opportunities at this time. playback speed can be increased in the settings to reduce video duration

Crude Oil Breaking Trendline Support

Both crude futures (/CL) and USO (crude ETF) are breaking below their respective primary uptrend lines off the June 20, 2017 lows. CL has also taken out horizontal price support around 66.55 while USO is currently trading on the 13.27ish support level now for the second time this week. As such, best to wait for that level to be clearly & impulsively taken out before considering a swing short on crude. To be continued next week...

2018-06-01T14:35:37+00:00 Jun 1, 2018 2:35pm|Categories: Gold & Commodities|Tags: , , |0 Comments

Trade Ideas & Sector Analysis for 5-25-18

An overview of various commodities, sectors, ETF & individual stocks that stand out as compelling trade ideas at this time, both longs & shorts. Took a while to get this one posted as I was working on publishing a few trade ideas after completing the video. playback speed can be increased in the settings to reduce video duration One of the trade ideas covered in this video is LMT, which still looks like an objective short. However, I opted to go with the ITA (Aerospace & Defense Sector ETF) instead for the additional diversification provided by the ETF although LMT tends [...]

2018-05-25T10:32:32+00:00 May 25, 2018 10:31am|Categories: Equity Market Analysis, Fixed Income (Bonds), Gold & Commodities|Tags: , , , , , , , , , , , , , , , , , , , , , , |2 Comments