RE:The charts indicates a GAP UP tomorrowThere is alot of uncertainity right now. On the 15 Min frequency BTE crossed below the 20, 50, and 200 MA's all key technical indicators traders watch and if aggressive go short or long depending on if the sp goes below or above their favorite moving average. Longer term trend is up so shorting is risky.
Looks like an inflection point into another bear cub run to me in oil. Another opportunity to long should be upcoming post a pullback. Look at the last 2.5 days it's peaked out just above $42. The market knows oil pushing 45 plus will bring on supply from drilled but uncompleted wells. Alot rides on Sunday.
Just before the last 2 OPEC meetings oil popped they fought with each other and couldn't agree on a cut or freeze then later ignored their loose quotas. In december the day before the OPEC meeting the fed cut and oil still still popped despite the bullish USD post the fed cut. The day after these meetings oil got hit.
The freeze proposal seems to be 50/50 even between analysists. If I had to bet I'd go with OPEC's past to predict the future.
High volume in BTE over the last couple days post a big run up is likely institutional profit taking not accumulation.