Monday, 12 October 2015

2pm update - energy stocks under pressure

With Oil continuing to slide, -4.3% in the $47s, most energy stocks are significantly lower. A retrace seems very natural.. after what have been some very powerful gains. Metals are battling to hold moderate gains, Gold +$5.. with the USD broadly flat in the DXY 94.80s.

APA, daily

RIG, daily


Little to add.

Certainly no sign of a short term floor in Oil.....


I'd guess Oil might open weak tomorrow, but then start to build a floor.