Baytex Energy Corp T.BTE

Alternate Symbol(s): BTE

Energy Oil & Gas E&P

Baytex Energy Corp. is a Canada-based energy company. The Company is engaged in the acquisition, development and production of crude oil and natural gas in the Western Canadian Sedimentary Basin and in the Eagle Ford in the United States. Its crude oil and natural gas operations are organized into three main operating areas: Light Oil USA (Eagle Ford), Light Oil Canada (Pembina Duvernay / Viking) and Heavy Oil Canada (Peace River / Peavine / Lloydminster). Its Eagle Ford assets are located in the core of the liquids-rich Eagle Ford shale in South Texas. The Eagle Ford shale covers approximately 269,000 gross acres of crude oil operations. Its Viking assets are located in the Dodsland area in southwest Saskatchewan and in the Esther area of southeastern Alberta. It also holds 100% working interest land position in the East Duvernay resource play in central Alberta.

TSX:BTE - Post by User

Baytex Energy Corp

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Post by smallcaptdron Feb 09, 2023 12:57pm

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Post# 35277541

Oil Chart forming Head & Shoulder Pattern

Look at the 1yr chart for Oil sure looks like a Head & Shoulder pattern emerging, of course, it's still too early but keep an eye on it because it could be pointing to further selling. Of course, this is NOT a fact!

Crude oil - 2023 Data - 1983-2022 Historical - 2024 Forecast - Price - Quote - Chart (tradingeconomics.com)

The head and shoulders pattern tries to predict a bull to bear market reversal. Characterised by a large peak with two smaller peaks either side, all three levels fall back to the same support level. The trend is then likely to breakout in a downward motion.