LUV: Great accumulation at key level$LUV is showing a great accumulation pattern, right above an older 'Key earnings support' level.
We can long at market open risking a drop to 35.40, and aiming for a retest of 39.97 in the intermediate term.
This is a good way of leveraging a potential retracement in crude oil to be seen soon, possibly after the next OPEC meeting shows leaders fail to reach an agreement, or if they simply 'freeze' production at record levels (which is the same as sitting on their hands, and maintaining the status quo).
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Good luck,
Ivan Labrie.
