Rising Wedges Appearing Across Oil-based Assets
We have a clear example of a rising wedge on XOP Oil Exploration & Drilling ETF. There is a similar wedge also forming on VanEck Oil Services ETF.
This suggests risk-off is coming to the oil markets soon.
My suggested timeline for resolution is 14th Feb. So one week away.
I strongly suggest that this may be part of a broader down move coming to oil and gas as commodities very soon.
This suggests risk-off is coming to the oil markets soon.
My suggested timeline for resolution is 14th Feb. So one week away.
I strongly suggest that this may be part of a broader down move coming to oil and gas as commodities very soon.
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