That's what I think is most likely, but i sure wouldn't want any bad news at the moment to test that head and shoulders. I think with Trump's claim OPEC danced to his tune and inventories growing, there's not much potential for more bad news for oil (unless the waivers are left in place at the last minute... very unlikely, or someone flips Trump the bird and ignores the rules... unlikely but possible). Various potential bullish developments. I'm sure many would be entertained if OPEC said when Trump said jump and tweeted that we asked how high, we actually took a seat. $70 wouldn't be out of the question.
I think Monday will be a good day, but I played it cautious today. I did short some of my own SEA holding though, bought back in for a marginal but easy profit.
SEA Price at posting:
41.0¢ Sentiment: Buy Disclosure: Held
