Even though I’m bearish on the ASX at these highs, I’m getting bullish on
OIL in the 4th Quarter, based on this 3rd quarter consolidating pattern,
with a potential move towards $100
I would like to begin with Santos, but I would also like others to chip in
and begin to have a look at other OIL stocks to see if there are any
‘bullish’ patterns appearing now and potential breakout patterns in the 4th Quarter or September
Currently trading under the Quarterly and Monthly 50% levels.
If OIL is going to go higher, then I would like Santos to come back down
into the 50% level in September, or the same lows as August lows and
then break higher in September and continue towards $17.33.
Santos will go Ex on the 26th of this month, I would wait until then and
wait until September's levels are formed.
September needs to hold Support $ 14.06 after going ex with an
expected move towards $17.33
If support can’t hold in Sept and OIL doesn’t follow through, then downside
is Monthly lows.