After having reached my target of 1.92 the recent OPEC production cut will lead to a extremer short covering compared to March. Volume is SURGING! If non OPEC members confirm production cuts we will see SDRL soon above 12-15...
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In the 5 min chart a pennant is formed... Targeting 3.00 region.
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darth.stocks
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That's what I call short covering. Have a look at the Brent correlation... Getting to 60 with Brent will push SDRL to 12-15 Region. Be aware 20% of all SDRL Stocks are short.