Seven Generations Energy Ltd. class A common shares T.VII

WTI and VII price action

[dalerules88]

looks like we have a trifecta of sorts possibly coming
- WTI down big overnight and now it's trying hard to double bottom on 1 minute chart and come back pretty hard
- friday morning gap down, plus here in Canada going into long weekend
- opec meeting coming up Sunday

this weekend will be do or die for oil and to large extent VII

I would think that with the gap down and the opec meeting coming up, we might start inching back up throughout the day (VII, as well as WTI), surely there must be some longs that can't help but start thinking what if OPEC comes out of the meeting with talk of cuts, which might put a floor under WTI

just a quick note on trading - my oils watchlist is getting pummeled today, BTE down 8%, POU down 14% at one point, but my gas list is doing much better, with two exceptions - TOU down 5%, as mentioned before, probably reverting back to the trend, after yesterday outlier up day, and ARX getting pummeled on what appear to be mediocre results; dry gassers doing better overall, of course, with US nat gas up another 5%. So I guess that explains VII being in the middle, down about 2.5% as I write. Our US gas exposure should help the cash flow, of course, being about 1/2 hedged. We'll lose money on paper on the hedges, but the other half of production should be printing cash by now, with AECO at 3 bucks CAD and US terminals at 3.60 USD range or higher

let's hope for WTI having bottommed and trending up into the weekend, kumbaya

IMO

[dalerules88]

update - pretty big bounce on WTI now, thank goodness, I was starting to second guess myself.. now at 60.50 - bounced off the 59.27 day low pretty hard ... guessing longs are stepping in before the weekend, hedging for good news out of OPEC

[dalerules88]

WTI making an almost perfect "W" so far this morning; this might turn into a nice head-and-sholders pattern for the day; not out of the woods yet, but looks promising so far.. oils have responded already, but VII still stuck at 12.50 some; shoudl see more bounce for VII than that, with gas up and WTI coming back hard; I'm guessing the algos are still in the predictive mode, so they

[dalerules88]

all WTI short term technicals pointing up - 1/5/15/30 minute charts all show buy signals - all aboard!

[dalerules88]

on 15 minute chart looks like WTI is trying to build a channel from this morning's double bottom; if we keep creeping up from the roughly 59.95 level over the next fifteen minutes or so, we might start a small uptrend; if it pans out, we might close about 60.15-60.20 range, for the NY floor trading close 2:30ET; let's hope we get there.. if there are any technicians on this board, I'm

[TUMONE1]

WTI hit a 50% and bounced on a daily - needs to close above 60.55 to get upward momentum next week otherwise consolidation and may move lower.

[TUMONE1]

BTW - I don't look at 15min charts regularly- look at market depth/price action, weekly, monthly's and yearly's.  I am more a position trader -  And also factor in Fundamentals.  

[TUMONE1]

Oh - and forgot for VII - 12.74 + would be good to stop the bleeding on the close.

[dalerules88]

thanks for the update, looks like now, having failed your 60.55 target, WTI might be in trouble; the closing hour also supports this, looks like; where do you figure short term support is for WTI? PS: I know very very little about technical analysis, aside from just few basic patterns and triggers; I was just curious to see why VII has been trading as it has recently; I'm new long to VII and