Josué M. Acevedo Gerena: Fundamentally the oil is down because a trump twitter, it should rebound when investor digest trump comments…
Tony Christoffersen: Who follows fundamentals lol
Amiras Gandhi: I see its extended. Might see little push higher before breaking down again. Also rotation may happen out of energy stocks.
Chip D’Alatri: I’m watching SCO, but waiting for the stochastics to come out of oversold on the 30 day for confirmation.
Waldemar Carlstrom: Absolutely, DUG,WTID,SCO,ERY, and DWTIF.
Amiras Gandhi: WEEKLY chart suggested macd crossover thats bullish though right?
Waldemar Carlstrom: Our frackers are producing like crazy, OPEC and Russia cannot control the price for long the world is producing too much oil . the U.S will be the World’s largest exporter of oil in 2 years. $10 a barrel oil here we come.
Amiras Gandhi: I understand and appreciate your views. But for trading I just care about technicals.
Amiras Gandhi: Anyone share technicals? appreciated.
Chip D’Alatri: Looking at it again, with lines crossing or about to cross positive on the MACD and 30 day stochastic, the pattern for SCO suggests about a 10% gain in closing prices peaking around the end of the month/beginning of May.