It appears that Oil is in a wave 4 consolidation with wave 5 coming next. In commodities, the fifth wave is often the longest and most explosive. Short of moving into the futures markets, I'm curious as to what the best stock to play for a move to 100+ in oil.
The chart below indicates that Chevron has best kept up with the price of oil with Exxon/Mobil following behind. Others in the comparison are Apache and Occidental.
Welcoming any and all thoughts on this.
The chart below indicates that Chevron has best kept up with the price of oil with Exxon/Mobil following behind. Others in the comparison are Apache and Occidental.
Welcoming any and all thoughts on this.
Comment:
IMO, Imperial Oil, looks even better