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Stock impact report

Oil Price Tanks, Oil Stocks Drop To New 2024 Lows [Forbes]

Chord Energy Corporation (CHRD) 
Company Research Source: Forbes
Big petroleum stocks are not waiting for the interpretation or explanation: well-known names in the oil industry this week did not waste time finding new lows for the year. No one knows if the drop will continue. It's impossible to say for sure. What's true is that the trend is down, and that downwardness is unmistakable. When prices slide below the levels of previous support — where buyers took over from sellers last time around — it's probably time to reassess the position. The daily price chart for the U. S. Oil Fund looks like this: United States Oil Fund daily price chart, 9 4 24. The red-dotted lines connect the June through August highs and lows. The September drop takes it below that triangle and back to the early June low. The February gap up at just below $70 may be a target. This fund reflects the movements of West Texas Intermediate Crude. The daily price chart for Chord Energy is here: Chord Energy daily price chart, 9 4 24. The exploration and production co Show less Read more
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