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iShares Global Energy ETF

[ENERGY ETF] AWAITING BREAKOUT

By hunnndini
Updated
This ETF has been falling constantly on the weekly chart as it is waiting for its exhaustion stage to retest the 20 or 30 Day WMA. It could possibly reverse all together and starting its bull trend relative to the volume. For the last week or so it has been trapped and seem to be consolidating. I have projected here the paths if the ETF breaks both the $31.79 and the $31.37 levels. Oil has gained so far this year but has shown now strong signs of a bull reversal.
Note
snapshot



Still inside its consolidation zone.
Note
snapshot


Finally broke its consolidation zone.
Beyond Technical AnalysisChart PatternsEnergy CommoditiesETFGASIXCOilTrend Analysis
hunnndini

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