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Do you think UPST and ROKU have bottomed out on the weekly chart, yet? What's you opinion on the Technical Analysis?
Trump’s DWAC is exploding!
DWAC about to explode!!!!
Brent and WTI are both crude oil...UWTI follows WTIC oil
Opec prepares to call emergency meeting over oil price slump
http://www.theguardian.com/business/2015/feb/23/opec-prepares-to-call-emergency-meeting-over-oil-price-slump
Seeking Alpha articles are 100% B.S. They just make titles that will get a lot of views and clicks on their ads to make money from ad revenue. They don't even believe their articles.
TECHNICAL ANALYSIS WEEKLY CHART!!!
That pattern is irrelevant because it's a daily chart...look at this weekly chart and you see that the MACD is about to cross, as well as the stochastic about to go above 20 and RSI about to go above 30...a very bullish signal and the sign of an oil bull market comming.
Dude...Brent is crude oil LOL. I think you need to stop trading oil until you know the basic terminology.
Crude oil is Crude oil. There are 2 types of crude oil, Brent and WTI "western Texas intermediate".
UWTI follows WTI futures "western Texas intermediate". Why do you think the symbol is UWTI LoL. But Brent is crude oil, too. It's all crude oil.
I think you need to look up oil on Wikipedia before you trade it LoL.
Here you go...
http://en.m.wikipedia.org/wiki/List_of_crude_oil_products
It's all crude oil...there's just different benchmarks. Brent and WTI are the 2 main benchmarks of crude oil.
UWTI follows the WTI benchmark of crude oil...
I think you are confused LoL...
Brent and WTI are both crude oil!!!
UWTI follows WTI oil which is "western Texas intermediate"
I repeat Brent and WTI are both Crude oil!!!
Here are some articles to educate yourself about the different types of oil...
https://www.google.com/search?num=100&newwindow=1&site=&source=hp&ei=VN7eVJiLL8mqNr3hgegO&q=is+brent+oil+crude+oil&oq=is+brent+oil+crude+oil&gs_l=mobile-gws-hp.3..0i22i30l3.10949.20892.0.21566.28.26.0.3.3.4.1166.8678.2j4j6j0j6j2j2j1.23.0.msedr...0...1c.1.61.mobile-gws-hp..9.19.5147.0.GtKc2Biyjlc#num=100&newwindow=1&q=wti+crude+vs+brent+crude
Ummm...We're you sleeping all day???
Because it's been all over the news that oil broke above $60 and nearly hit $62. This is the deffintion of breaking out the trading rang. Twice oil failed to go above $60, but today oil broke the resistance and rose to nearly $62
It looks like you missed the action today...here read the headlines...lol
https://www.google.com/search?num=100&newwindow=1&site=&source=hp&ei=r83eVIulEoKqNurwgJAC&q=oil+broke+out+of+range&oq=oil+broke+out+of+range&gs_l=mobile-gws-hp.3..30i10.1894.9362.0.9394.25.25.0.4.4.1.716.5795.0j5j10j4j0j1j1.21.0.msedr...0...1c.1.61.mobile-gws-hp..10.15.3163.0.biNrbuHBt7U#num=100&newwindow=1&tbs=qdr:d&q=oil+%2460
What time frame are you referring to on the chart?
Alot of the amateurs here don't know how to do technical analysis. Every time oil goes up 3 days in a row...there's profit taking. We are still making higher lows. Plus event hough we bottomed there will be pullbacks in an uptrend...look at the hourly chart.
In all of the 4 times I history when o dropped 50% or more in 6 month's...it always bounces back to $70 within 6 months.
Same world, same charts, same sheep believe the media....this is going back to $70 quick just like the other 4 times in history when. Oil dropped 50%or more in 6 month's time...history repeats itself. If you believe the media that's your fault.
Inventories, supply/demand, any all the negative factors is why oil dropped 50%+ in 6 months...it's all built into the price drop already. Why don't the bears get that? All the supply and demand gap is ready built into the price drop. That's why we bottomed out...it can't go down forever.
Also in all the 4 times in history when oil dropped 50% in 6 month's...oil always got back to $70 within 6 months from the bottom...!!!
Watch this video...Expert says $44 "was" the "bottom"
http://video.cnbc.com/gallery/?video=3000353120
If oil can get to $60 before opec announces a production cut...then it will easily got to $70-$80 real quick!!!
The hire oil goes up on it's own...based solely on just technicals...the higher oil will go once OPEC finally a ounces a production cut to stabilize oil.
I think we will finish the day strong today and touch $55...we might not close above $55 but wouldn't be surprised if we touch it. At least $54. Usually there's profit taking in the morning...but this morning it's holding strong and actually going higher.
Watch this video about oil bottom...
http://video.cnbc.com/gallery/?video=3000352134
Another strategy you can use when u get nervous and want to lock in a profit is just sell some of the position. Daytrade rs do this all the time. Say they short 500 shares of a stock at $100...then it goes to $98, but they think it's going lower...they would lock in some of the profits, and sell mabey 200 shares. If it goes down more sell another 10 shares. If it goes up to the new stop loss close the position all together.
That's what you could have done Friday with UWTI...if you were nervous of a pullback or reversal, but don't want to miss more potential upside...you can sell half of the position. Now if it goes down you already locked I some profit...and if it goes up you still have some shares making money.
There's 3 things that can help the stress of trading....
1. Simply learn to follow charts instead of emotions and the media...
2. Only buy an amount you feel comfortable having tied up for a while and can a ford to loose.
3. Don't guess the exact bottom...get close and average down with 3 different purchases.
Aying ETFS are just daytrade is the dumbest thin I ever heard...FAS is a 89 bagger from the bottom of the financial crisis...lol
Wow...the oil futures are all ready rippin!!! Usually they don't get hot until at least 3am to 6am when the volume picks up in the futures market. This is a bullish sign in my opinion. I say brent breaks $60 and WTI breaks $55 today...we will see
Picture This...If oil gets to $60 before a major production cut...then this will explode to $80 when someone does cut production whether it's the US, Saudis, Iran..who ever...this will explode. The higher the base this forms on just technicals...the higher it will go once production is cut by "somebody".
Are these the same people that were saying oil was going to $30 a week ago LoL. Never listen to the media...It's all BS. I knew a bottom was forming when there was a dramatic increase of oil price articles. Every article was different. I doesn't matter what the articles say...just that there is an exponential increases of chatter about the oil price.
The only source that have been honest and accurate so far has been OPEC and the Saudi oil minister. We might not like what he says but he's a better source than all these BS articles. The Saudis told as the bottom was in right before it jumped. They know the are minipulating the price so they at least tell us before they load the boat lol.
Oil Futures are holding strong IMO...it doesn't start picking up till mid-morning around 3am up until 8:30 premarket. That's been the pattern. On the days oil made big gains it doesn't explode until the morning hours before premarket. I think it's hold strong for such a big one day gain...be patient...I believe in a few more hours we see some big volume pour in.
When I see a pump article like this I know the "Saudis" have loaded up.
I hope they strike for a Month!!!
When the new numbers come in...it would show a dramatic decrease in use oil production.
OPEC Sees Oil Prices Exploding to $200 a Barrel
http://www.fool.com/investing/general/2015/01/31/opec-sees-oil-prices-exploding-to-200-a-barrel.aspx
On December 10th-11th WTIC oil was at $60. UWTI was between $7-$8...
So I believe that UWTI will be in the $7-$8 range when WTIC oil hits $60 and UWTI will hit $10 to $11 when oil hits $70...I'll post the historical prices links for UWTI and WTIC
http://www.nasdaq.com/symbol/uwti/historical
https://ycharts.com/indicators/crude_oil_spot_price
My first buy was around $3.50, my next buy point t is $2. We may never get there, but I'm in for the long haul. I only bought what I can afford to lose..so I can sleep at night. I already have my orders set. I learned a while ago on real red days not to let your emotions get involved so, I don't post as much.
And it was true...the market can stay in overbought territory for a while as you can see in my monthly chart. When it falls close to 50 mda and the black line on the MACD crosses down, it's a good sign. Calling the bottom is easy on the monthly charts for dow and s&p. When it hits 30 on RSI it hit a bottom
It looks like the hourly chart is making a double bottom. The first bottom was $44.20 the second bottom happened yesteryday. Just look at the hourly chart. I bet we close strong today lime we did the day this hit $44.20.
Oil prices turn positive as OPEC sec gen calls bottom to market
http://mobile.reuters.com/article/idUSKBN0KZ05G20150126?irpc=932
No I haven't...post the message or I'm deleting this lie.
Here's another article that just came out in the last 24 hours...it says the bottom is comming or is already here.
http://www.reuters.com/article/2015/01/25/us-usa-gasprices-idUSKBN0KY0YD20150125
In 2009 the RSI didn't even reach 30 on the monthly chart...look at it now...
http://stockcharts.com/h-sc/ui?s=$WTIC&p=M&yr=8&mn=0&dy=0&id=p89407518581