Here are some of the most noteworthy new highs and lows across the markets for Friday,February 7, 2020. Johnson & Johnson $JNJ Breaking Out…
Tagged $XOP
Oil Stocks Still Treading 30-Year ‘Line In The Sand’
A key index of oil stocks continues to hold above its reclaimed 30-year old Up trendline; however, it’s been unable to mount any bounce off…
Is The Oil Rally Getting Clogged Up?
Crude oil prices may be hitting the most significant level of resistance since launching their rally in February. In a year of interesting market moves,…
Big Test For Oil Stock Rally
Oil stocks are at a seemingly “must-hold” level within their long-term reversal attempt. If there is one sector that best symbolizes the prospects of the post-February…
Have Oil Stocks Recovered Their “Line In The Sand”?
A key index of oil stocks has moved back above its (temporarily broken) 30-year up trendline…for now. “If the XOI can reclaim that broken trendline,…
The Line In The (Oil) Sand
The current test of a 30-year trendline could determine whether or not the bounce in oil stocks is sustainable. What do all the inquiring minds…
Will 30-Year Trendline Put Cap On Oil Stock Drop, Or Lead To Another Gusher?
The post-1985 UP trendline could provide support for the XOI Index – but a break could accelerate losses. With oil and oil stocks at the…
Energy Stocks Flowing Up Wall Of Worry?
Despite sharp bounce, energy funds have not yet attracted heavy inflows. Much of the market debate currently is centered around the question of whether the…
Oil Stocks Testing Breakdown Level Of Long-Term Uptrend
One of the biggest casualties of the recent stock market decline has been energy stocks. One may even argue that they are the culprit, or…
Oil Services Sector Again Testing Key Support (& Fate?)
Back on March 19, we noted that the key Oil Services Index (OSX) was testing an important line of support. Specifically, it was the 61.8%…