oil sector fragile in my opinionSo I've decided to take my profits here and move on. Today may be a rebound but the intense selling in the final minutes the last few days is scary. Also on a weekly basis the MACD is looking very poor. Given the strength of US dollar commodities are not the place to be and the amount of oil the US is producing right now does not help our CDN companies.
Will a takeover occur perhaps but I think the dust has yet to settle now. I will put some price alerts on this one for monitoring but the trend is down. A break above the 200 day moving average might bring me back but there's a lot of oil companies in the same boat to pick from and dividends to boot.
Good luck