RE:RE:technical analysis doesn't work for CPG.TO, its casinoTechnical analysis is not based on the commodity price, which is a fundamental factor.
That said, it did seem strange how oil would rise and this (and many other E&P's) seemed stuck.
One reason the fundamentals might not have worked is Norway (along with others) deciding small mid cap E&P's are no longer the place to invest energy funds in.
We also hear constant buzz about how bad shale companies are except for throwing good money down a hole.
Now of course the Canadian side listens to no pipeline noise (as if that effects CPG).
The fundamentals do not warrant this low price IMHO. The technicals do say we will go up for now (how long, how much?)
I do think we may not track oil price like it used to. Once the big investors decide the story goes one way (buy integrated) it doesn't change on a dime.