Looking at the 5yr the move up is literally just a matter of time. The near term activity and F.A support this. Oil looks to be correcting in the short term before retesting $70 / Barrel.
Cup and handle played out over 5 years. Looks pretty good to me. Has been sitting unloved for 12 months time to wake up and shake off some cobwebs with a new farm-out partner and a full schedule that could unlock billions in value, wet weather could put a dampner on things and its always a gamble with oil and gas.
Considering i cant chart i have overall got all the directions correct but find im calling the upside a little prematurely.. as you see here it looks really good to take out 26.5c in the ST.
InvestinMetal
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Going to have to move up to 26.5 without a pullback from here for the cup & handle to stay in play. Looking the goods so far.