Here's WTI vs CPG.
I'm seeing resistance at the top of the channel, there's a really significant long term technical level to breakthrough here, it's unsurprising that there's resistance.
.. but you can see oil moving up, giving CPG the energy it needs to break that channel.
What do you see between those channels? Nothing but a nice big gap. This could run to $8 very quickly if WTI holds $80.
I'm seeing resistance at the top of the channel, there's a really significant long term technical level to breakthrough here, it's unsurprising that there's resistance.
.. but you can see oil moving up, giving CPG the energy it needs to break that channel.
What do you see between those channels? Nothing but a nice big gap. This could run to $8 very quickly if WTI holds $80.