Oil and gas continue to make new highs. But don't forget to keep an eye on OPEC+. That's the only thing that has me cautious right now. With a need for more infrastructure and in consideration of the reopening trade, my guess is energy sources will be needed. Regardless, a build or increased production globally could put a dent in this bull trend. Not sure if it...
I like BORR here technically. I might be willing to take a speculative trade just based on what my eye is seeing. I would personally consider setting several incremental price targets within this broadening formation.
Look for 1.3 area for selling pressure. A lot of institutions might be cashing in their positions at this level. My resistance line should be hit-thus, closing the gap.
Fundamentals are up in the air but price correction is needed. Trend is broken and support has been established.
Borr Drilling Ltd. engages in the provision of drilling services to the oil and gas exploration and production industry. The firm will acquire and operate drilling assets. The company was founded on August 8, 2016 and is headquartered in Hamilton, Bermuda.