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Encana Corporation Message Board

  • jinnes8787 jinnes8787 Jul 30, 2006 5:50 AM Flag

    ECA in danger of moving down

    ECA should take a hit soon as I have seen a good technical analysis of Oil on and they predict Oil prices to go down t $70.

    Commentary: (July 29, 2006)

    Oil has stochastics and MACD in bearish positions. Oil should move lower this
    week, and there is no support in sight until $70.00.

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    • wrong.

      Encan price action is largely correlated with NG prices.

      In fact, with NG so low right now, I am very impressed that ECA is above $50.

      Should NG rise above $12 this fall, due to hurricanes, demand spikes and the like, I see ECA hitting $60 with the possibility of printing historic highs.

    • ECA with natty gas diverged from oil on Thursday, on big volume - notice sharper divergences in futures and stocks on Friday. ECA will move up with gas futures. The sucking sound you hear is coming from colossal a/c demands from converting businesses, new buildings, and mcmansions.

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