RIG, daily
Summary
RIG remains one of the big leaders in the Oil service sector, and is a great barometer for the wider sector.
Near term trend is indeed weak, a further 2-3 dollar fall seems likely. A daily close under the 200 day of $48, would be very bearish, and be suggestive of much deeper declines, all the way down from where it began - the 45/44 zone - where there is also a gap to be filled.
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RIG is a good company, but that bear flag will surely be confirmed within a matter of days.
