Brent crude pushing past $80 per barrel is doing wonders for the energy sector:
Slope of Hope Blog Posts
Slope initially began as a blog, so this is where most of the website’s content resides. Here we have tens of thousands of posts dating back over a decade. These are listed in reverse chronological order. Click on any category icon below to see posts tagged with that particular subject, or click on a word in the category cloud on the right side of the screen for more specific choices.
Different Gaps, Same Thing
Well, everything’s green again this morning (except, mercifully, for bonds). Crude oil has been particularly strong for many months now, and I wanted to point out an interesting little tidbit.
If you glance at the ETF symbol USO, which is a very popular instrument for trading crude oil, you will see its price gap is miles and miles away:
The Star Mattered
Yesterday when I was doing my live Tastytrade show, I pulled up the XOP and noticed that it was in a shooting star formation. I mentioned off-handedly that “one day does not a trend make”, but I felt it was worth noting (and I mentioned this with similar words in my post last night here). You can see yesterday’s formation quite plainly, as well as what’s going on today………..
WTIC Oil Churns as World Leaders and Markets Digest Israel’s Report on Iran
The price of WTIC Crude Oil (CL) continues to churn in a tight sideways consolidation range as markets and world leaders digest Israel’s latest release of information regarding Iran’s nuclear program.
As shown on the following daily chart of CL, it’s still in uptrend on this timeframe, and this latest consolidation zone (green zone) may be a “bull flag” formation…suggesting higher prices ahead. (more…)
Never Sell Oil on Fridays? (by Moneymiser21)
A well respected Slope trader posted more than once that he never/rarely sells oil futures (/cl) on a Friday.
So with plenty of backtesting to do on this Good Friday, I put that theory to the test, and found there’s a slight edge to that mindset.
The lookback: 5 calendar year 2012-2017.
314 end of week days (sometimes that was a Thursday)
9:00 a.m. EST until 2:30 p.m. EST (old pit hours still the highest liquidity, with 2:30 p.m. still used for settlement) (more…)
