People are quite excited about uranium and hating on oil stocks.
I see Uranium futures losing support, Cameco directors dumping their shares, premiums on calls on Robin Hood..
Meanwhile, Oil prices are rallying, Texas oil offline, about 40% of US production and what sounds like serious supply chain issues. I am seeing experienced commodity traders hating on oil stocks saying they wont catch up to oil even though the gap between the two is historic.
Many are expecting Oil stocks to drop, but I noticed on Friday, $SU made a respectable weekly close and moving down to the daily chart we have a bullflag consolidation, more so on $XLE.
$USOIL did close the week below $60 which I thought was an important level but depending on how you draw trendlines we have a clear break out.
Currently risking a totally of 3.5% account with $SU and $OSH.AX calls. I want to see $USOIL close above $60 to add upto 5% account exposure.
I see Uranium futures losing support, Cameco directors dumping their shares, premiums on calls on Robin Hood..
Meanwhile, Oil prices are rallying, Texas oil offline, about 40% of US production and what sounds like serious supply chain issues. I am seeing experienced commodity traders hating on oil stocks saying they wont catch up to oil even though the gap between the two is historic.
Many are expecting Oil stocks to drop, but I noticed on Friday, $SU made a respectable weekly close and moving down to the daily chart we have a bullflag consolidation, more so on $XLE.
$USOIL did close the week below $60 which I thought was an important level but depending on how you draw trendlines we have a clear break out.
Currently risking a totally of 3.5% account with $SU and $OSH.AX calls. I want to see $USOIL close above $60 to add upto 5% account exposure.