Transocean Can see some upside the coming days! for NYSE:RIG by kickhedge

oil uso hedgefund long swingtrading swing short-term

I like the Rig Transocean chart for a short-term long play. Why do I like oil plays at the moment? Well last week we saw oil making new lows, but the oil stocks aren't making new lows. This is a sign of strength for the sector. Rig is making a bullish pattern on the daily chart and once we can see a spike in oil these stocks will see a 10% bounce.

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Kristof De Block
Chief investment officer
KickHedge

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