This Is Why Oil Services Has My Attention
The Oil Service
and Drilling sectors definitely have my attention right now. Why is
that? I have included two daily charts below. One of the
Oil Service Holders
(
OIH |
Quote |
Chart |
News |
PowerRating), and one for
Rowan
(
RDC |
Quote |
Chart |
News |
PowerRating). As you can see there are some common characteristics
here:
1) Solid Fibonacci price
support2) Bullish Gartley patterns into our support zone
3) Time cycles for a reversal to the upside right about now
4) Also…RDC has a Triple Crown Zone imbedded in its Fibonacci price support
levels from 20.00 to 20.88
So, in the
short term although these stocks have been quite weak, I would be thinking about
taking profits if short and even considering a long trade against these zones.
Of course, if triggered into a long, I’m placing my stop just below the support
zone.
Good night!
P.S. I’m in the midst of finishing up
an in-depth training module teaching you exactly how I trade my favorite
strategy, my “TRIPLE CROWN STRATEGY.” If you would like details on it, please
click here. Also, you will receive 1 free month of my
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Click here for more information or call 1-888-484-8220 ext. 1.