I was watching NBR
last night and was once again reminded that the news is a lagging indicator. They are simply doing what the news does best, as they reported on things that had already happened. Things like the recent drop in Crude. Let's see if TA can help us see what may happen going forward. I see an ascending triangle
taking shape. Price has been establishing higher and higher demand levels then testing those levels. Price is currently testing the latest demand level
. If Price holds here, look for it to test the top of the triangle next.