Three Oil Stock Charts To Watch Closely…

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Commodity Trading Research
Three Oil Stock Charts To Watch Closely
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• Hi, My name is Justin and Im with Commodity
  Trading Research, today were reviewing our
  recently published article

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• Three Oil Stock Charts To Watch Closely

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• After a failed breakout attempt in early October,
  West Texas Intermediate (WTI) crude has fallen
  back into the same shiftless trading pattern
  thats been in place since early September.

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• In fact, the closely watched commodity is
  currently trading at the same price it was two
  months ago 46 a barrel.
• Take a look

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• As you can see, theres not much to get excited
  about in crude right now. The technical
  situation is rather ambivalent while the
  fundamental backdrop is as murky as ever.

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• But take a look at this

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• A number of the worlds largest oil producers are
  rallying strongly in recent trading. Take Exxon
  Mobil XOM for example. The worlds largest oil
  producer is up 12 in the past month

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• As you can see, XOM is surging past the 200-day
  moving average (red line) and the downtrend from
  the July 2014 highs (green line). This is
  bullish price action indeed. Believe it or not, a
  similar pattern is appearing in Chevron CVX

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• The worlds third largest oil producer by market
  cap is up 16 in the past month. Whats more,
  its quickly approaching the same technical
  barriers XOM just surpassed. And thats not all

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• EOG Resources EOG has rallied nearly 17 the
  past month. Notice how shares of the 47 billion
  market capenergy producer are trading in a nearly
  identical technical pattern to XOM and CVX.

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• A little further research reveals a number a
  large-cap energy producers are on the verge of
  very important technical breakouts- just like the
  stocks above.
• Whats going on here?

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• Why are top-tier energy names rallying while the
  price of crude trades sideways?

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• Quite simply, aggressive energy investors are
  betting the oil markets worst days are behind
  it. With the share price of leading crude
  producers quickly seeking out higher ground,

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• its highly unlikely WTI falls into the 20 a
  barrel range like some suggest. If downside in
  WTI is limited, it makes sense to put capital to
  work in the worlds most financially resilient
  oil companies.

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• In other words, the cream is starting to rise to
  the top in the energy space.

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• Now lets be clear

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• The rally in the exploration names above doesnt
  mean oil is about to surge to 70 a barrel. In
  fact, given the current technical and fundamental
  backdrop its quite likely crude trades in the
  40 to 50 range for the remainder of this year.

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• However, Id use any downturn into the lower end
  of that price range as a buying opportunity.Im
  noticing a number of important trends in the
  energy space that lead me to believe the recent
  38 low in WTI wont be broken.

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• As a result, awell-placed long position in crude
  (or a company producing it) will likely pay in
  spades as 2016 progresses.
• Whats the easiest way to potentially capitalize
  on this situation?

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• Energy focused equity ETFs offer investors a
  relatively simple way to catch industry trends.

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