RIG, SDRL - rough day for energy stocks

Whilst the broader market continued to climb, there was notable weakness in energy stocks. The oil/gas drillers of Transocean (RIG) and Seadrill (SDRL) settled lower by a very significant -5.0% and -4.6% respectively. Near term outlook is a little shaky.. if WTIC Oil doesn't resume higher, and break >$62.


RIG, daily

SDRL, daily

Summary

Price action/structure is far weaker in RIG, with a clear break of the recent upward trend.

Oil could easily climb into the $65/67 zone this July/August, but most analysts/traders seem resigned to renewed downside in Oil prices later this year.

If that is the case, RIG and SDRL will be liable to break under their mid March lows.
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*I like both stocks on a multi-year basis.. but have no interest in considering either on the long-side until late summer.