Gaps are sign of the market going ahead of itself, FOMO fear of missing out, energy prices were pumped by traders , likely to take profit sooner than later, we have for Brent gaps at at 77usd and 72.50, they will close.
Well well , what an opening this morning , clearly hedgies at work, I can see $23 puts interest growing, not chasing this now , let see if 280 holds, it is a strong support, if it breaks we could retest the next Fibo level 255 and close the 262 gap. Don’t be fooled the buy back should take this back to 310 , good swing trade opportunity.
Brackenheim - Comparing BP/Shell, BP should be at 285, bottom of the trading range - I suspect Shell is being sold short, and not BP because the buyback. I am looking at Shell if it reaches 1250, there is a gap at 12. If you have BP shares you could sell and buy Shell, there is more upside.
fossilfool - jumped at 230, because the 223 gap. Looks like the trade deal discussion have restarted, PE ratio of Chinese tech is 5 times lower than it is uS counterparts - Let see.