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Strategies & Market Trends : Underexposed Technical Analysis

AQN 6.225

-0.1%

Dec 24 12:59 PM EST

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From: Underexposed	9/15/2019 3:56:47 PM
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DIS: with the drone attack on Saudi Oil refineries causing a 5 million/day drop in production... is this enough to drive the price of oil a lot higher??? Or is this just like having a production cut for them? I have shown a number of oil companies that have long term potential and have been into Crescent Point Energy [TSX:CPG] [NYSE:CPG] for a while personally. I have been concerned that the bull run may be over which is why I have not added it to the fantasy portfolios here. But with this weekend news this might give the stock another boost. Here is its American listing chart Quite a bullish chart, eh. The circle shows the barest hint of a topping of the BBWidth. In good times I would ignore it but these are wild times and I am not willing to lose a 10%+ profit I have earned so far. So I will be watching this closely to see if the top is neigh. This is the P&F chart You can see the resistance that it is approaching.... this news about Saudi production drop may be the catalyst to send it past that resistance... then we would have clear sailing for another 10% gain at least. Just looking for how you feel about the direction on the price of oil now... UE

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