Shell quick 18% to sell off back to 200 EMA and to 61.8 Fib
As Oil is weak bearish case for Shell to sell back to its 200 EMA and then just fake out below this level to reach the 61.8 Fib retracement of the recent move up
Shell looks like it just broke is support trendline
Other points Oil has broken out of a wedge and appears to be moving lower
BP and Shell move together and BP has made ATH at round number 500 and made triple top at this level and has already broken lower.
If you pair trade these two stocks there is now a relative of up to say a potential of 25% to be captured if the two companies prices move back to relative parity to each other
Shell looks like it just broke is support trendline
Other points Oil has broken out of a wedge and appears to be moving lower
BP and Shell move together and BP has made ATH at round number 500 and made triple top at this level and has already broken lower.
If you pair trade these two stocks there is now a relative of up to say a potential of 25% to be captured if the two companies prices move back to relative parity to each other
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