One day oil news is positive, just for our clever economists to turn negative the following day. Short it a few days ago at underlying 30000 but closed out early today at 28800. Seems a bit rudderless at present - the share I mean.. Longer term though is up up and Up!
Jack12 - Just translate the technical stuff a bit to us laymen pse? Are you saying it's due for a downward correction? Obviously this share moves in tandem with the crude price, so you predict a fall in oil prices?
dont do much on the fundamental side of it, I read the chart and the price. I will try find some commodity charts and we can correlate the information. But it is on a gap down hammer(bullish signal) and seems today will be another hammer, look at the bull tails on the candles(pushing up) me thinks more up than down.