Oil shares became overextended and are likely to correct further in weeks ahead. On the weekly chart it is clear that XLE has turned down. The overbought condition will need time to work off. Weekly
"Energy giant Saudi Aramco says its 2021 net profit soared by more than 120 percent due to higher crude oil prices, as global economic growth recovered from a pandemic induced downturn."
A little overextended here...
ReplyDeletesc,
ReplyDeleteIts time to buy Yang again--and start positioning into UVXY
Early to mid April new lows are expected--Oil should bottom and then explode into new highs in to summer driving season
Don't miss the ride?
For UVXY waiting until NFLX gets up into high end of the trading range $425 then yes drop again to $350 NFLX.
ReplyDeleteYes summer driving season agree
ReplyDelete"Energy giant Saudi Aramco says its 2021 net profit soared by more than 120 percent due to higher crude oil prices, as global economic growth recovered from a pandemic induced downturn."
ReplyDeleteGUSH actually looks like it'll edge a fresh higher high but XLE does not here.
ReplyDeleteRIG is an oddball. The chart doesn't look good.
ReplyDeleteI'll wait a couple weeks on Oil then it'll be time to get in again
ReplyDeleteAdded more bought AHPI $3.15.
ReplyDeleteDaily AHPI has a triple positive divergence.
Deletewhats the story on ahpi
DeleteI'll post the chart on it. Tiny stock with only 4M shares homerun potential
DeleteYANG I may look for entry in April. Airplane went down in China.
ReplyDeletetake a look at QS And SOFI
ReplyDeleteWill do, thanks!
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