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Dollar-earner BP could rally in 2017, claims technical analyst

The stage could be set for oil giant BP plc (LON:BP.) to rally in the New Year given the strong US dollar and rising oil price, says the King of Charts Zak Mir.
“We may not believe that OPEC can hold everything together, but at least the oil price has stabilised,” Mir says in the TIP TV Proactive Investors Christmas special.
“BP has underperformed its peers and it’s had its issues, but…I’m looking for it to go over £6 over the next year.”
“With an extra [US interest] rate hike on the way allegedly, dollar earners like BP should do that much better as well,” Mir adds.

Quick facts: BP PLC

Price: 469.35 GBX

Market: LSE
Market Cap: £95.11 billion

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