Crude oil prices made a dramatic comeback from the April's 2020 low which supported the oil stocks significantly.
Crude oil has been trending higher since last April’s low. The higher the price climbs, the more the global industry will require oil services.
A continuation of higher petroleum prices should support gains in HAL.
HAL has violated the...
Buy Hurricane Energy (HUR.L)
Hurricane Energy plc is engaged in the exploration of oil and gas reserves principally on the United Kingdom Continental Shelf. The Company's acreage is on the United Kingdom Continental Shelf, West of Shetland, on which the Company has approximately two basement reservoir discoveries, each containing approximately 200 million...
SELL – BP (BP.)
BP p.l.c. is an integrated oil and gas company. The Company owns an interest in OJSC Oil Company Rosneft (Rosneft), an oil and gas company. The Company's segments include Upstream, Downstream, Rosneft, and Other businesses and corporate.
BP’s second quarter earnings came in flat as increased production offset lower oil prices....
A long term multidiagonal confluence occurred here just after the new yea. While there hasn't been a significant shift to the upside since then, I like the recent update and the positive oil price environment.
These factors combined suggest to me that we could be due a good rise here.
My use of multidiagonals suggest that we could expect a move into the £25.00 range here at RDSB, nevertheless as we approach that upper diagonal, don't be surprised if we perhaps pull back down before resuming the move.
A daily close below the lower diagonal would concern me and I would probably exit.