technicals are getting interestingIf we can break through the 52 week high at 7.40 that should start alerting trading programs as to a possible flag. Once those guys start looking at the charts they can see a long term base has been forming with a possible breakout about to occur. I would expect that 7.75 would start to confirm a long term downtrend has been broken. Also 8.00 seems to be strong resistance level that if broken would definitely confirm a new uptrend is in play. Have a look at a 5 year chart and you can see what I'm looking at.
That all being said those trading programs probably reside in the US and new money or momentum players will start to move in. The Americans will come back to Canada when they see money can be made easier than in the US energy sector. Fundamentally debt is a problem but not an obstacle as the US economy will really shine in the second half of the year.
Just my opinion but I'm holding for now and I'm in the black finally. Cheers