Did I draw this correctly?

You can see the futures price of oil in this link, but the quote is delayed. Look at the front month and compare it to the later months and see what you see. The price in the later months is cheaper than the front month, so beware.

https://futures.tradingcharts.com/marketquotes/CL.html

That's not a true reason to be careful with Oil companies. Certainly Ukraine news could be a major issue for a day or two but the fundamental situation supports $100++ Oil for months even if the War ends. There is a massive supply and logistics issue compounded by the European Nat Gas crisis. Meanwhile, many of these energy companies are making money at a pace far in excess of what the market is crediting them for. So the Risk / Reward is really good as long as you don't take terrible entry points and take stop losses. As long as someone can stomach some short term volatility you can't go too far wrong owning most energy companies these days ( especially in Canadian mid cap and juniors ).
 
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