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Zak Mir on FTSE100 Oil & Gas Stocks: BG Group, BP, Royal Dutch Shell

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By Zak Mir.

 

FTSE 100 Oil & Gas Stocks: BG Group, BP, Royal Dutch Shell

All stocks looking strong relative to recent WTI weakness below $100. Could they be a leading indicator on Crude Oil recovery?

BG (BG.): 

  • Implied bullishness after recent 200 day moving average bear traps
  • Likely support towards 50 day moving average at 1,209p.
  • Top of 2013 price channel top target as high as 1,400p by year end 

BP (BP.): 

  • Unfilled gap to the upside a major charting buy signal above the 200 day moving average
  • Very positive implications for FTSE 100  and 7,000 plus target
  • Only sustained price action below 200 day line now at 454p delays a target towards 505p 2013 price channel top. 

Royal Dutch Shell (RDSB): 

  • Unfilled gap to the upside through the 200 day moving average ahead of that of BP earlier this month.
  • Very positive bear trap reversal during October from below August support
  • Top of 2013 price channel target at 2,400p over coming weeks would break existing 2,350p plus year highs. 

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