Who else is waiting for this breakout to happen? If it does, a good target would be $125 and I like the odds. Just look at NYSE:SLB , NYSE:RIG & NYSE:HAL , they have already broke out from there bases. Look for other stocks within this ETF and you will find good set ups. I'm doing it. NYSE:WHD & NYSE:NOV are near pivot points.
Clearly there is a Bearish Divergence on XLE and XES on RSI and PPO On Weekly time frame as well, there is negative divergence Risk to Reward clearly favors Short Opportunity
A little updates on Natural Gas for those who are following NG1! and UNG closely Now we are seeing tons of Bearish pressure on Nat Gas on Weekly, Daily and Hourly TF. Chart shows a possible Bearish Head and Shoulder pattern for NG1! Also we are seeing tons of Bearish Divergence on RSI and PPO
Excellent short setup on Natural Gas! Waiting for the 7.5 Level to Short! Also SUMMER is here in USA and across the Globe...
OIH/WTI Spread Should Close - Long OIH / Short CL (USOIL). Red Circles Spread.
Note and pictographs on chart. Obey your rules.
Crude oil wti futures on approach from above to linear trend line from Dec 1998 to Nov Jan 2009 extended to present. Should see a bounce or stabilization at least. Need to re analyze as condtions in this market are NOT normal. Caution on the long side. Likely short covering. Activity slowing down upon approach. Over night likely to have the move.