Call the COPs

Managing Partner at Tim Knight Organization • Dec 12, 2023 at 12:35 PM EST

Energy has been pretty much the old good sector for shorting in recent days.

sunset

Image Source: Unsplash

Energy has been pretty much the old good sector for shorting in recent days, and I’ve mentioned SLB and COP ad nauseum, including yesterday.

Below we can see COP getting zapped nicely today, with a price gap and a trendline failure. Next step: break the horizontal at 109.71

(Click on image to enlarge)

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