With energy prices starting the week on a bearish note, the oil/gas drillers were on the slide. Transocean (RIG) settled lower by a rather significant -3.1% @ $13.54. Further weakness to first big support around $12.75 looks a given. Any main market retrace in late Feb/March would threaten RIG to the $11s.
re: WTIC oil. Price action in oil has been broadly choppy since early Jan'.. if not early Dec'.. depending on how you look at things. First support is the $50 threshold, and should hold across the spring. An eventual move to the $60 threshold looks a given by early summer.
Keep in mind an inverse H/S scenario - that was first noted last autumn/late summer... suggestive of 70/75. That is clearly a long way up, and will likely not be seen until very late in the year.
As for RIG... short term weakness, not least if the main market sees a 5% correction by late March. Broadly though, first big target is the $20 threshold.
If Oil in the $70s... RIG to $30... which is a very long way up.