The break of the pennant within the possible head and shoulders complex could be the deciding factor. In terms of risk/rewad I prefer to short energy stocks against oil. But the way the chart is forming on a daily metric leads me to believe the trend of stronger energy stocks against oil prices will continue in the long term.
Kommentera:
At critical level...
Handel aktiv:
Short
Kommentera:
According to this chart you should be long oil and short energy stocks, or long oil instead of energy stocks. I am long both
Kommentera:
While I maintain the view that energy stocks will depreciate in value against oil and drop into the .88 ratio level, I see the current 1.09 level as an opportunity to take some profit or do the reverse. This current level should hold to some degree. I think energy stocks will temporarily outperform oil from here.
Kommentera:
I was wrong about taking profit at 1.09. I am re-entering the trade as I see the continued downside in this ratio toward .80s
