Long
Contango Oil & Gas, do you smell the black gold in the air?
The S&P 500 broke 3100 today. It's about time that commodities start moving up with the market. Very soon we should see crude oil start to rise. Contango had a huge move up when the Saudi Arabia drone news came out. It was one of the stocks that jumped with high volume. It crossed above the 30 week moving average and began to bounce on the average. The ma line is slowly beginning to curve up. The macd triggered the buy signal while it's centered out. You can also see how stagnant the macd has been since April 2017. The RSI jumped up, crossed above it's MA and is now centered out. The momentum indicators are primed and have lots of room to expand.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.