Description
⋅ 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