Oil & Gas Services is the leading industry $XESWho 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.
XES
NG1! Head and Shoulder Bearish PatternA 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
$CL_F $USO WTI Crude Oil near trend supprtCrude 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.