Trade Ideas: CNQ

Bouncing from a convergence of support; two trendlines, 20-day and 50-day MAs. Nearby resistance at $61 and $64. Relatively low risk play.

Canadian Natural Resources Limited engages in the acquisition, exploration, development, production, marketing, and sale of crude oil and natural gas. The company’s principal regions of crude oil and natural gas operations are in the Western Canadian Sedimentary Basin, the United Kingdom sector of the North Sea; and Offshore west Africa.

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