Too many people focused on negative oil prices while missing the rally on producers.

Setting up nicely.

Cup & handle and a 16% gap to be filled.

Too many people focused on negative oil prices while missing the rally on producers. pic.twitter.com/ywdMTgNCpV

— Otavio (Tavi) Costa (@TaviCosta) April 22, 2020

Resilient.

Oil & gas producers are one of the few industries that rallied this week.

Not only that, but they outperformed the S&P 500 by 8 pct pts!

That’s after WTI prices went negative…!

Least favorite industry in the markets today. pic.twitter.com/6xid66OFYJ

— Otavio (Tavi) Costa (@TaviCosta) April 21, 2020