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Connacher is a growing exploration, development and production company with a focus on producing bitumen and expanding its in-situ oil sands projects located near Fort McMurray, Alberta

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Message: Very quiet trading day + Bitumen price

From my previous post:

...CLL SP is in extremely oversold level. Daily RSI 9 is around 10. Anything under 20 is a buy for short term bounce to the next resistance level...

Thanks to Fed QE and the enthusiastic market reaction CLL SP move quickly to the first resistance level at $1.21

Despite selling going at the beginning of the week the Uptrend Charts were showing Early Bottom Warning and Pressure Zone building up indicating the change of the SP direction coming soon.

As per Uptrend Charts $1.22 is a buy signal for majority investors who do not have the luxury of watching the market all day long and rely on the daily close prices and daily charts.

When we close at $1.22 and the big indexes stay positive CLL SP will get some extra momentum which should pause at $1.27 and $1.3 - $1.32 which may trigger substantial profit taking selling pressure.

IMO negative Q3 numbers, after initial sell off will have no major impact on the CLL SP. We will just follow the market and the CLL trading patterns.

Institusional upgrades or downgrades (after the Q3 report) may still this Big Casino Show and wright a different script.



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