Watch for weakness in SU

Alright folks, let’s take a look at Suncor Energy ticker is Su and this has popped up on our radar due to the fact that we’ve got double bearish divergence signals on the higher timeframe, which is the weekly. So last time prior to where we are now we had bearish divergence was back here in June of 2021, and predicted a pretty substantial sell off in the stock. And now we’re getting double bearish divergence signals at a key area of longer term structure. So if we go to the monthly, we can see that we come to the monthly, we are coming into an area of import structure here to this 3333 Half range, that’s also reflected in the weekly so this is not the only energy stock where I’m getting some signals like this. This one looks pretty enticing, though here. So we have an area that we haven’t touched since January of 2020. We’ve traded up here and now we’re kind of going sideways. And we can see that a little bit better on the daily. So we marched up here. And now the market is looking a little weak a little bit tire starting to take more attempts to crack the trendline the upward trend line to the downside. And of course, in addition to having the bearish signals on the weekly, we’re also getting those flashing over here on the daily. So we’re looking for potential short here. We also know that aside from trading a high probability divergence signal into structure that we also have seasonality. So if we take a look at this trade right here, bearish trade from around April 11 to April 25 80% win rate over five years, average profits a little bit smaller, about 2%. But still we would like to consider nibbling here with our first targets are going to be right around here at about 28 quarter. And then we would be risking just on the other side of these highs above 34 half. So that’s what we’re watching for on Suncor. Well, what what is Trey here the first day or two of the week and then we’ll see if we can get additional confirmation now and we talked about this divergence concept on my upcoming presentation Tuesday, April 12 at 7pm called the ripple effect how to be first in line for huge market moves. Really that exact same concept and breakdown I just showed you there on Suncor is what we’re able to do every day in the futures and equity markets. So I’m excited to share this strategy with you registration is free and hyperlinked to this page. I’ve got to do is enter your name and email and I look forward to seeing you there.