Husky Energy is on the final wave 5 of it's greater wave C correction which may see a potential bottom of $3.57 in the coming months.
Trade closed: target reached:
Here's an updated chart, we very near the end of wave 3 of Wave 5. Some global fundamentals, Saudi and Russia killed OPEC+ which tanked oil futures prices globally. After April 2020, oil production will be increased. There will be a relief rally of Wave 4 coming soon and then the last set of shorters will come in. The next rally will begin when either a new OPEC is formed or there is some kind of global governmental intervention.
Here's an updated chart, we very near the end of wave 3 of Wave 5. Some global fundamentals, Saudi and Russia killed OPEC+ which tanked oil futures prices globally. After April 2020, oil production will be increased. There will be a relief rally of Wave 4 coming soon and then the last set of shorters will come in. The next rally will begin when either a new OPEC is formed or there is some kind of global governmental intervention.