Brent hits 80 —-WTI 76 I don't know how long this rally can go, but as long as these targets are being knocked down , I do see it continuing. 80 dollar Brent..... that is a fairly big psychological marker , and really 76 for WTI is another barrier knocked down.
I believe all who still hold just got there ex dividend and on the 15th next month we get paid again. So just a little perk.
As far as the volume goes , If the shorts are covering great , if institutional investors are adding great , and if whitecap is buying through the NCIB then awesome because they will want to do this prior to raising the dividends and subsequent further increase in share price.
Today was nice to see but it looks like others had there 52 week highs reset as well. I feel we are undervalued.
I hope this continues , and the shale drillers don't get greedy stick to the game plan. That opec plus sticks to the out put increases of 400 k monthly and the industry as a whole has the brains to grow 3-5 percent. Keep production stable. So to keep prices in this range.
We are are own worst enemy's. I read the private guys are going to go nuts and increase production because they aren't scrutinized .
I really would like to see us get back to 10 dollars per share.