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Oiletf

OIH: Keep Going! 👏OIH is on its way toward our green Target Zone (between $$321.09 and $339.97), nearing the last local high from the end of January. We expect the ETF to arrive in said Target Zone during the orange wave ii before the orange five-wave downward structure should continue, ultimately concluding below the support at $277.30 (but still above $250.69). Still, there is a 32% chance that the orange wave Alt.ii has already finished without reaching our Target Zone, which would be confirmed by the price dropping below $277.30 earlier.
AMEX:OIH
by MarketIntel
OIH: Come on! 👏Since the low of wave ii in orange, OIH has already managed some strong upwards moves, but so far, it could not successfully conquer the resistance at $276.85. However, we expect the ETF to climb above this mark soon to develop wave iii in orange. Afterward, the short counter movement of wave iv in orange should interrupt the ascent, before the following upwards step should lead to the top of wave 2 in turquoise. There is a 35% chance, though, that OIH could slip downwards and drop below the support at $250.69 instead.
AMEX:OIH
by MarketIntel
OIH: Rebound 🏐Impulsively, OIH has bounced off the resistance at $276.85, which now marks the top of wave iv in magenta. Next, the ETF should continue the downward trend below the support at $250.69 to complete the magenta-colored three-part movement and thus expand wave 3 in turquoise. However, a 35% chance remains that OIH could take a northbound detour, climbing above the resistance at $276.85 to develop a new top in the form of wave alt.2 in turquoise first before turning southwards again.
AMEX:OIH
by MarketIntel