Note: Good scalping opportunities at that resistance.
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BBEP is a US oil stock that has higher beta than USOIL and OIL. BBEP had a similar pattern with a similar resistance level at 7.18. Notice BBEP's candles are in a similar shape.
Today, BBEP broke through that 7.18 level, to make over a 17% gain in 1 day. That BBEP broke through its 7.18 resistance level, ahead of USOIL, is a good sign, IMO. I think USOIL will go up. And US Energy in general, has turned.
But I'm more optimistic about other energy stocks, including GPRE, and STKL, both of which I hold, and both of which did good today. Even TSL and CSIQ (which I also hold) did well.
But I wouldn't be a buyer or a seller right now. I take it as a good sign and will buy more BBEP on the pullback.