Big Oil is reporting. Today. Big time. We had Royal Dutch Shell (ticker: RDSA) this morning and we hear Exxon (ticker: XON) later today. RDSA suffered a sharp decline in Q4 profits, but so far they still win the title for the largest annual profit for a European company. Remarkable: Shell maintains it capital spending program that soared 40% last year to 38 bln USD.
But for the moment it’s not the time to buy – yet.
Our renko-charts don’t offer any clue that this is the very moment to get in. Even more: the CCI is overbought.
But for the moment it’s not the time to buy – yet.
Our renko-charts don’t offer any clue that this is the very moment to get in. Even more: the CCI is overbought.
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