EOG weekly chart shows no compelling reason to be long. Other technicians may consider this move today a breakout from the 114-115 ceiling but the negative divergence has greater weight. The negative divergence is not only set up over the last month but also for the movement over the last year. Daily chart is in negative divergence as well so price projection would be sideways to sideways down despite all the promise for natty as the number one fuel. The 35% move in recent months from 85 to 115 priced in a nice premium already.
105 initial target as the weeks roll along. This information is for educational and entertainment purposes only. Do not invest based on anything you read or view here or any links connected to this information. Consult your finanical advisor before making any investment decision.
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