The forsaken sector - Oil and Gas
Updated
This is one sector that is pretty depressed since April 19 or even Oct 18 since it peak at 45 and have plunged to a low of 20 in early Dec this year.
The multiple bottoms at 20.38 show evidence that it has reached its bottom and price is going to catch up to its glorious days like before. When? Your guess is as good as mine.
(etfdb.com/etf/XOP/
Here, you can see the components of XOP. The advantage is you need not check out individual company as there are way too many listed.
When the price action breaks above the resistance level at 24.15, I will be happy to load more.
See you at the TOP.
The multiple bottoms at 20.38 show evidence that it has reached its bottom and price is going to catch up to its glorious days like before. When? Your guess is as good as mine.
(etfdb.com/etf/XOP/
Here, you can see the components of XOP. The advantage is you need not check out individual company as there are way too many listed.
When the price action breaks above the resistance level at 24.15, I will be happy to load more.
See you at the TOP.
Note
Praise Lord. The resistance is broken now. Buying tonightNote
no, we hold back our purchase as the candle fail to close above the resistance.......
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.