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$ORIG POSSIBLE BULLISH SETUP for OIL ANGELS, 5th wave incomingOcean Rig UDW Inc.(NASDAQ:ORIG) $ORIG POSSIBLE BULLISH SETUP, 5TH WAVE ABOVE 0.75 INCOMING August 12, 2016 Shares of Ocean Rig UDW Inc. ORIG, were nearly halved in premarket trade Friday, after the oil services company said it would continue to explore reorganization strategies that could include bankruptcy given the continuation of "extremely negative" market conditions. The company said late Thursday that oil companies continue to reduce their offshore budgets, the floater rig market is expected to become even more oversupplied than it already is, and a recovery may not occur for several years. "We continue to explore and consider alternatives, which may include a possible reorganization under US bankruptcy laws or another jurisdiction, so that we can ride out this very difficult cycle with feasible prospects for strong, long-term success." The stock plunged 61% ahead of the open.
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by Pandorra
OILGlobal news can say whatever you want . It is not physical oil . This are futures . and future's price is constituted by those who trade these futures - banks. There are 3 major traders in the market of oil - JPMorgan , Goldman Sachs, Citi, in their turn they are getting money from the Federal Reserve System . And the Federal Reserve System has only two targets - to keep holding dollar as a the world's reserve currency and to make it stronger. That why in the first quarter of 2017 the oil price will be 12 Continues rally Elliott wave +fibonaci Way to 12
NYMEX:CL1!
by EXCAVO
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