Posted by sbaxman111 on 6th of Sep 2017 at 12:55 pm
Oil Drillers have had little to smile about over the past years. Could
this trend be about to end? A pattern is in play that highlights a
counter trend rally could be near.
Below looks at the Oil Drillers (XOP)/ S&P 500 Ratio over the
past couple of years-
Kimble - XOP/SPX ratio
Posted by sbaxman111 on 6th of Sep 2017 at 12:55 pm
Oil Drillers have had little to smile about over the past years. Could this trend be about to end? A pattern is in play that highlights a counter trend rally could be near.
Below looks at the Oil Drillers (XOP)/ S&P 500 Ratio over the past couple of years-
The ratio could be creating a double bottom at line (1), near the apex of a potential bullish ascending triangle at (2), as momentum is oversold and could be creating higher lows at (3).
nice chart. again for swing
Posted by matt on 6th of Sep 2017 at 12:59 pm
nice chart. again for swing confirmations will want to see a symmetry break from the Dec downtrend