Macro: Inflation accelerating as indicated by 3 month positive beta on WTI & TRJEFFCRB against 3 month negative beta on DXY, coupled with production in Permian basin decelerating on a sequential rate of change basis
Technical: Bullish MACD and RSI divergences, coupled with price action having 3 month secant > 3 month tangent. Entry price of $42.22 with price target of $52 and stop loss of $40.
Technical: Bullish MACD and RSI divergences, coupled with price action having 3 month secant > 3 month tangent. Entry price of $42.22 with price target of $52 and stop loss of $40.