Baytex Energy Corp T.BTE

Since Thursday Oil has been building a base @ $85

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Sept 7th - 8th Oil hit $81 then rose to $88 from the 9th to 15th then down to $85 and flatlined till this morning dip down to $82 but we are back to $85 so since Sept 7th we have averaged $85 Oil and what's important is that we haven't hit into the $70+ Oil giving me the impression that traders are in agreement having Oil at $85 with all that's been happening in Sept. I have a feeling that after the FED has made their rate hike Oil traders could start next week taking notice for reasons of having higher Oil prices and could decide to push Oil into the $90+ but Oil would have to stay in the $90+ for weeks to confirm that Oil is in an uptrend and is not just being driven into the $90+ Oil on whims but being driven higher for technical reasons. It would be nice if Oil hit $75 even for a second by year's end just so that I can be assured that my reading of the economy vs Oil from the start was right but $90+ Oil makes BTE holders money and that's always better. And because I agree that there are reasons for higher Oil proves that I'm open to all driving factors being negative or positive for Oil prices. The one guarantee in all of this is that if Oil does head into the $90+ BTE SP will be the one TSX stock to reap the rewards of higher Oil. We'll see by week's end where Oil prices will be compared to starting the week with $85 Oil. I'm going to keep an eye on the technical of Oil and the minute its turns to "Buy" then you can load up on BTE as a hold.

Technical Analysis of CFDs on Crude Oil (WTI) (FX:USOIL) — TradingView