Monday, 30 November 2015

1pm update - oil stocks upgraded

Whilst the main equity indexes remain mostly choppy, there is increasing attention on Oil stocks, as Guggenheim issued a buy on 23 stocks. Oil itself has cooled from earlier sig' gains, fractionally lower, around the $42/41 division.

RIG, daily

USO, daily2


Suffice to say, in the short term at least... oil and related stocks, look far more vulnerable to the upside.. than to break new lows.

*I've eyes on BAC, price structure is an increasingly clear bullish pennant, but more on that later.