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Halliburton Squeezes Toward a Breakout as Oil Rallies: Chart Study

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Energy is coming to life again as the economy reopens. Let’s take a look at oil-field service provider Halliburton , which has a few interesting chart patterns.

First is the downward-sloping trendline running along the highs of March and April. HAL closed above that resistance yesterday …

For more, please click here to view the related idea and chart analysis on TradingView.

Halliburton (HAL), daily chart, with key patterns, courtesy of TradingView.

About the author

David Russell
David Russell is VP of Market Intelligence at TradeStation Group. Drawing on two decades of experience as a financial journalist and analyst, his background includes equities, emerging markets, fixed-income and derivatives. He previously worked at Bloomberg News, CNBC and E*TRADE Financial. Russell systematically reviews countless global financial headlines and indicators in search of broad tradable trends that present opportunities repeatedly over time. Customers can expect him to keep them apprised of sector leadership, relative strength and the big stories – especially those overlooked by other commentators. He’s also a big fan of generating leverage with options to limit capital at risk.

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