Bullish Oil Futures = Energy Companies (#4 BPT)
This is a pullback and very deep and this reduce the risk to be shocked for a whipsaw some people doubt, but you can wait for some green candlesticks or a swing low, for feel more sure about the idea follow the daily chart like a hawk in the wait of a swing.
https://www.tradingview.com/chart/VEIBUXco/
Again this idea work for swing trading and position trading too. In this case I recommend buy slightly above the actual price because this pullback was deep and you know we need some kind of price action above the 22.00 and 23.00 levels to entry in this trade with heavy reasons.
For a swing trade, the target is below 30.00
For a position trade the target can be close to 50.00 based in past support and the Oil Futures and the future in general I can not say exactly because technical analysis it's not a crystal ball. But this optimism is based in the Bullish Oil Futures
Other aspect here I wanna shared is that not all Energy Companies move in tandem in this Industry some are leaders and others follow they, some are breaking resistance lines now, others are making the pullback now, and others are have not reacted yet is a mix and here the timing is important.
https://www.tradingview.com/chart/VEIBUXco/
Again this idea work for swing trading and position trading too. In this case I recommend buy slightly above the actual price because this pullback was deep and you know we need some kind of price action above the 22.00 and 23.00 levels to entry in this trade with heavy reasons.
For a swing trade, the target is below 30.00
For a position trade the target can be close to 50.00 based in past support and the Oil Futures and the future in general I can not say exactly because technical analysis it's not a crystal ball. But this optimism is based in the Bullish Oil Futures
Other aspect here I wanna shared is that not all Energy Companies move in tandem in this Industry some are leaders and others follow they, some are breaking resistance lines now, others are making the pullback now, and others are have not reacted yet is a mix and here the timing is important.