The Energy ETF (XLE) is following the 8×1 Gann angle down but has hit the 1×2 ascending angle. This often provides support for a few weeks. A move back to the 1×1 descending is not out of the question.
The Oil Service Index (OSX) is in a similar position as the XLE SPDR.
The AMEX Oil Index remains above the 1×2 angle and could drop another 10%.
Tags: EnergyNo Comments
0 responses so far ↓
There are no comments yet...Kick things off by filling out the form below.