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Chevron (NYSE:CVX), Devon Energy (NYSE:DVN), ExxonMobil (NYSE:XOM) and Marathon (NYSE:MRO) are among buy recommendations with positive stock price momentum measured by current price above the 200-day moving average. We hope that positive momentum continues and that some negative trends turn positive again.

Along those lines there may be a change in trend for natural gas perhaps helped by new concern about global warming. Under a declining 40-week average since last spring, six-year natural gas appears to have bottomed in the last quarter and at the recent rate of change may cross back above its 40-week average within the next few months (see chart, Natural Gas Six-Year Futures Strip).

By analogy, six-year oil price may remain below its 40-week average for some additional months (see chart, Oil Six-Year Futures Strip). The lack of positive oil price momentum helps keep our rating of Imperial Oil (NYSEMKT:IMO) as Hold rather than Buy.

six and one futures

new gas


new oil

Source: Positive Momentum for Energy Majors