Here is a daily chart of Oil Service HOLDRS. I last commented on this ETF here.
The market is within a point of the 148 upside target. I think crude oil has a good chance to rally further to 65.00 or so. In view of this I think OIH will probably move up a bit more than I originally thought, maybe to 150 or so. However, I believe that the nex 10 points in OIH will be downward. In fact I believe that a move to below 118 will begin soon.
1 comment:
hi carl:
i respect your views on oil and OIH..but what i wanted to mention to you,which is my opinion, that OIH was struggling for 3 month to close above 200EMA ..and yesterday for the first time it broke above that and closed successfully with high volume..in my opinion, i think this is very bullish..and could put OIH at new high of the year..
i was wondering if you would agree with this..thanks.. if you can post that here and in the comment section, i would appreciate it.
thanks again
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