The chart of WDS shown below is one that’s concerned us in recent months, i.e. it’s bullish suggesting oil will remain firm, stoking inflation, weighing on rate-sensitive stocks. Both charts shown on the energy sector today suggest oil prices will be higher for longer, but of course with plenty of volatility along the way.
- We can see WDS breaking above $36 in the coming year.
MM is bullish towards Woodside (WDS) below $33
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