Resistance test for a couple of Oil plays is at hand….
CLICK ON CHART TO ENLARGE Game Plan….Have been an owner of DBC for a while. (see post here) Don’t sell…yet do put in a 3% stop on this ETF.
‘Oil Service’ Archive
Drillers update
CLICK ON CHART TO ENLARGE Game Plan…am currently overweight the energy complex, long OIH and XLE. Keep a 4% stop on these positions. As relative strength continues (see post here) If the dollar should bounce off of support, I will lower this stop or harvest! FYI- For some, OIH is too large of a position at [...]
Searching for “relative strength” in oil stocks
Charts suggested to buy Oil Drillers ETF (OIH) last week (see post here) . In the chart below, Drillers (OIH) and Oil Stock ETF (XLE) have both broken channel resistance of late and are attempting to reach the next level of channel resistance. CLICK ON CHART TO ENLARGE These two started reflecting relative strength almost two [...]
Harvesting Silver (SLV) and Oil Driller (OIH)
Going to harvest Silver (SLV) and Oil Service Holders (OIH) at current prices.
Oil Drilling moratorium lifted…Oil Service (OIH) update
The drilling moratorium looks to have ended today (see article here). Suggested to buy the Oil Service ETF (OIH) in the chart below on 9/30 (see post here). Below is an update to the chart above. Wait for news like today to be released or use the “Power of the Pattern” to your advantage? Change to a 5% trailing stop.
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