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September 25th, 2017

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PUBLISHED BY INSTITUTIONAL ADVISORS
Saturday, February 7th, 2009
Technical observations of RossClark@shaw.ca

Crude Oil

Back in June the crude oil market generated a series of four weekly upside exhaustion alerts followed by monthly signals in June and July. The weekly readings were the first since Iraq’s invasion of Kuwait in 1990 and the monthly was only matched by the major high in 1979. We are now experiencing reciprocal action. There were four weekly capitulation alerts through December. As of last Friday the indicators are triggering the first monthly capitulation alert in over fifty years.

The stocks have managed to hold up well since October and a close above January 28th would break the downtrend in the XOI dating back to last May. The period of seasonal buoyancy in the sector following January 20th should be supportive over the next few months.

Weekly Chart


Monthly Chart


Daily Chart




BOB HOYE, INSTITUTIONAL ADVISORS
Saturday, February 7th, 2009
EMAIL:: bobhoye@institutionaladvisors.com
CHARTWORKS WEBSITE:: www.institutionaladvisors.com


The opinions in this report are solely those of the author. The information herein was obtained from various sources; however we do not guarantee its accuracy or completeness. This research report is prepared for general circulation and is circulated for general information only. It does not have regard to the specific investment objectives, financial situation and the particular needs of any specific person who may receive this report. Investors should seek financial advice regarding the appropriateness of investing in any securities or investment strategies discussed or recommended in this report and should understand that statements regarding future prospects may not be realized. Investors should note that income from such securities, if any, may fluctuate and that each security’s price or value may rise or fall. Accordingly, investors may receive back less than originally invested. Past performance is not necessarily a guide to future performance. Neither the information nor any opinion expressed constitutes an offer to buy or sell any securities or options or futures contracts. Foreign currency rates of exchange may adversely affect the value, price or income of any security or related investment mentioned in this report. In addition, investors in securities such as ADRs, whose values are influenced by the currency of the underlying security, effectively assume currency risk. Moreover, from time to time, members of the Institutional Advisors team may be long or short positions discussed in our publications.


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September 25th, 2017

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