Technical Analysis
1. Fib retrace @ the $6.6 level
2. Recent monthly trend line shows support @ $6.7
3. RSI nearing 30 range @ $6.6 level
Fundamental Analysis
1. COVID risk kills O&G demand
2. Potential Biden administration regulations
3. Increasing costs of transportation infrastructure due to materials prices increasing
4. Sector oversold
1. Fib retrace @ the $6.6 level
2. Recent monthly trend line shows support @ $6.7
3. RSI nearing 30 range @ $6.6 level
Fundamental Analysis
1. COVID risk kills O&G demand
2. Potential Biden administration regulations
3. Increasing costs of transportation infrastructure due to materials prices increasing
4. Sector oversold
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.