Volume drying up, similar to EOMarch with descending wedge pattern on log scale, looks like ready for a move up. Some good potential catalysts coming with (1) Oil tanker sanctions, (2) demand coming back online (TSA #'s hit 500k+ daily Friday and keep climbing, (3) speculation of OPEC discontinuing cuts in August with oil prices recovering, (4) very low tanker fleet build last couple months due to COVID-19, (5) Fidelity buying 10% of DHT, and (6) FRO CEO adding more shares.
Seeing divergence on 4-hr, 2-hr, and technically daily with still no monthly close lower the lowest monthly close that occurred back in Dec '18 and monthly open in Jan '19. Not oblivious to the bearish scenario though with the May monthly candle and last week's candle, if we don't see daily green candles in the next couple days and a weekly green candle next week, the probability this closes monthly at $14 becomes much higher.
I went out this weekend with the family and almost no one was wearing masks except store employees. World is coming back online. I think people are realizing COVID was a bit overblown.
Seeing divergence on 4-hr, 2-hr, and technically daily with still no monthly close lower the lowest monthly close that occurred back in Dec '18 and monthly open in Jan '19. Not oblivious to the bearish scenario though with the May monthly candle and last week's candle, if we don't see daily green candles in the next couple days and a weekly green candle next week, the probability this closes monthly at $14 becomes much higher.
I went out this weekend with the family and almost no one was wearing masks except store employees. World is coming back online. I think people are realizing COVID was a bit overblown.