WDS rallied +2.6% yesterday testing it’s 2018 swing high in the process, we remain bullish towards crude oil hence we see no obvious reason to lighten our exposure to WDS, even though it’s now surpassed our initial target i.e. the trend is currently our friend here. Overnight the Energy Sector was again best on the ground advancing +1.8%.
- A test of 2014 highs feels inevitable into Christmas although another explosive rally towards $50 wouldn’t surprise i.e. 10% and 25% higher respectively.
MM remains long and bullish WDS
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