Intermarket analysis of Oil ETF relative to SPX. This graph works because oil moves based on inflation, economy, commodities etc. Some of these spots were almost "risk free" (until proven otherwise). Meaning 100% - until something changes.
Where are we now? USO needs to find support - and then we see.
We've been out of the #Oil trade for some time now.
It since went about 10% higher, no big deal.
Daily analysis:
Broke its recent uptrend.
RSI oversold - Usually gets a bounce at these levels.
It has been trading in between mid 60's & Low 90's.
Intraday looks like it is setting up for a bounce.
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Weekly Analysis:
You'd figure...
Guyana's tax agency is taking Exxon Mobil Corp. ( NYSE:XOM ) to court after one of the company's suppliers claimed it mistakenly inflated the value of oil-well equipment by 200 times to about $12 billion. The Guyana Revenue Authority issued a summons to the oil giant, with a hearing scheduled for May 10. Exxon and Trinidad-based Trinidad-based company Ramps...
Exxon Mobil ( NYSE:XOM ) and Chevron ( NYSE:CVX ) stocks fall on first-quarter earnings Reports. The first quarter of 2024 has brought forth a flurry of developments, shedding light on the complex dynamics shaping the future of these energy behemoths.
Earnings Woes Amidst Market Headwinds
Both Exxon ( NYSE:XOM ) and Chevron reported disappointing first-quarter...
If you haven`t bought the dip on XOM:
Then analyzing the options chain and the chart patterns of XOM Exxon Mobil Corporation prior to the earnings report this week,
I would consider purchasing the 120usd strike price Calls with
an expiration date of 2025-1-17,
for a premium of approximately $10.05.
If these options prove to be profitable prior to the earnings...
USO while the middle east, the Houthi rebels and the Suez Canal shipping quagmire affect
oil liquidity globally and prices at the pump continue to be volatile the federal government
seeks contracts to restore the national strategic reserves depleted in the last supply demand
challenge while the presidential and congressional election cycle starts warming...
building positions with macd and fibonacci (50% break out). w/ all the fundamental reasons:)
rising inflation theme. Bullish TNX momentum etc.
u could buy big oil, oil drillers or NRGU. Beginning at feb or march; XOM was +15%. high probability.
Exxon Mobil ( NYSE:XOM ) faces turbulent seas ahead as it braces for a dip in first-quarter operating results, signaling a departure from the record-breaking profits of yesteryears. With weaker oil and gas prices, coupled with significant losses in fuel derivatives, Exxon ( NYSE:XOM ) finds itself navigating through challenging terrain after two years of...
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Exxon Mobil with ticker XOM is back in the uptrend after a completed (A)-(B)-(C) irregular flat correction for wave 4. It's in strong rally away from projected support for wave 4, so wave 5 can be now in progress, which should be completed by a five-wave cycle of the lower degree. It can easily send the price towards all-time highs, just be aware of subwave (4)...
Nat gas made a bullish reversal today. Closing up over 6%
Natural gas has recaptured the short term trend and is trying to establish a new bullish range.
If Nat gas holds above the key $1.8622 level we will have a quick squeeze to $2.25
Oil continues to grind higher. making new higher highs and higher lows.
Oil is now on watch to target $90 a barrel....
Exxon Mobil (XOM) has been on a tremendous since the January 18 bottom and even more so since the start of this month (March). We are about to form a Golden Cross on the 1D time-frame and last time this pattern emerged (September 20 2023), the market top was formed a week after.
In fact all Tops since November 2022 where formed on a Higher High sequence,...
Reasons for bullish bias:
- Safe entry at breakout for confirmation
- Price bounced from strong support
- SL below support
Entry Level (Buy Stop): 105.36
Stop Loss Level: 95.40
Take Profit Level 1: 115.32
Having not reviewed Exxon Mobil for a while, it's important to note its strong correlation with oil prices, on which we're currently positioned in a short trade. Accordingly, we also anticipate a downward trend for Exxon Mobil that has yet to conclude. The construction of Wave E or overarching Wave (A) peaked at approximately $96. The critical question now is...
If you haven`t bought XOM ahead of the previous earnings:
Then analyzing the options chain and the chart patterns of XOM Exxon Mobil Corporation prior to the earnings report this week,
I would consider purchasing the 105usd strike price Calls with
an expiration date of 2024-3-15,
for a premium of approximately $2.37.
If these options prove to be profitable prior...
Natural gas has started the week off on a bad note.
Nat gas has lost the key weekly volume gap fill at $1.8622
This was the line in the sand that the bulls needed to maintain.
The fact that Natural GAs has lost the key supply zone shapes up for a likely bearish move lower. We are holding the 20 Day MA so Bull have one last hope at this level. Hope typically...
