Alex_Quiroga
Long

Bullish Crude Oil futures presuppose buy Oil Companies

NYSE:DO   DIAMOND OFFSHORE DRILLING INC
It is a simple reason and the price pattern support this argument. Now go to the technical aspects
Past support now become support (it's not a play on words) look the chart and is easy to understand.
But this idea need some weeks to mature because after the last price rally from 10.2 to 17.60
I need to watch some kind of price consolidation and that the market accepts this new price.
Support in the 15.00 area is very clear in this example and I only need to draw one line in the weekly chart
another point to emphasize here is a bottom tail of the last red candle who is testing the 15.00 support area
I think I do not need more technical arguments for explain this stock idea.
I do not give price targets with accuracy but let explain how would I handle this trade: If I buy now at 16.06 and after several months the trade is working
I would close the operation based on the behavior of the price at that time in the future using the moving averages as reference but not a moving average crossover for closing the position because I dot no use a mechanical trading system I close the position if a weekly bar close in the area between the blue moving average and the green moving average
In a nutshell I buy and sell based in my discretion
But you dear reader need to complete this with Fundamental Analysis .
Again I repeat my ideas are for long term Investing and they need patience to grow up and fundamental research for sustain my technical arguments.

Homework
https://www.investing.com/commodities/crude-oil-opinion
https://www.thebalance.com/oil-price-forecast-3306219
https://knoema.com/yxptpab/crude-oil-price-forecast-2017-2018-and-long-term-to-2030
https://oilprice.com/Energy/Oil-Prices/Traders-Are-Betting-On-100-Oil-In-2018.html

https://www.thestreet.com/quote/DO.html
https://seekingalpha.com/article/4121133-diamond-offshore-solid-balance-sheet-weak-rig-fleet
https://www.marketbeat.com/stocks/NYSE/DO/
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