While copper is naturally gaining more attention given its recent weakness, COP is the major integrated Conoco which also bears watching.
I consider this chart a short setup, with weakness under $66 being an initial trigger. Note the recent consolidation not recapturing recent losses very well, and a declining 50-day moving average to boot.
On the long side, note the recent strength in under-the-radar restaurant plays like BLMN DFRG KONA.
ZU is also having a great day after a recent orderly pullback.
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Chess, you remember the relative performance study on silver miners? The flipside of recent SVM under performance is what will happen if the precious run continues….
SVM looks primed on the 30min.
Good work
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Speaking of Copper …
… could SCCO catch a bounce off of SUPPORT here ?
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It *should* but was a nasty bull trap the past few weeks, too.
You know what should have been a no-brainer at the end of January? $PLOW