BTE building supportThe only way to build a solid SP is to take 2 steps forward and 1 back consolidating all the time while it heads higher plus Oil has been fairly stable between $88 - $89 today consolidating itself after the runup, Friday was the time to profit take BTE and now with the lower SP its a chance to average down for holders or a good time to jump in but use caution saving some dry powder in case BTE has weakness again tomorrow you can average down because there could be another leg down for Oil and if not then BTE rally higher and today was the time for bargain hunters. Oil has already given back $4 from the high of $93 so that's a fair amount to consolidate and could be it but it's anyone's guess from here. Thursday's 8:30am US Core Inflation could add volatility for Oil because the FED will use these numbers for their next rate hike decision. One thing for sure is that higher Oil will help keep Inflation high when gasoline and diesel start to climb. BTE @ $6.80
