Buying GUSH this morning to play the long on USOIL. Looks like a short term AB=CD pattern in play. $48.73 in USOIL should be the 1st target. On the daily chart %R is rising out of oversold conditions. TSI should cross soon. TSI crossed on the hourly chart.
Note
Daily chart quite bullishNote
OIL continuing to grind higher. Energy stocks aren't keeping up? Set stops in case this reverses. Note
Target was hit on the 15th. Im staying in with partial position. GUSH just isn't keeping pace with OILTrade closed: stop reached
With the general markets moving lower, energy stocks are suffering no matter OIL moves higher. UWTI would have been a good trade, GUSH was not. Next time.
Disclaimer
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.
Disclaimer
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.