If oil remains above 70-75 post-breakout, energy stocks will perform well.
Jump to any passage
Same thing holds true with the oil and I've seen this long enough to realize that the stocks tend to lead the oil not the other way around. So, the fact that those are very strong, I think is a good sign and uh I would think that we're probably going to see this sort of drift higher over time.
Oil is holding its own. I mean, I'm not saying that this is a uh powerful signal right this second, but look at the size of the breakout that's taken place, and the fact that we're consolidating this off without doing a whole lot of damage.
Looks like there's a lot of support underneath, and I want to tell you that I think if oil the oil doesn't have to go up, okay? But if it doesn't give back a whole lot here, the oil stocks are going to make a lot of money, all right?
They're They're in a strong position if oil stays at the levels I think anything above 70 or 75 is really a good sign for for energy stocks themselves.
Watchpoints
What this channel has said about $USO
StockCharts TV has only this one call on this stock.