The Energy Sector Is On A Major Sell Signal. The Cycle Is Up.

Sharing is Caring!

Source: Jack Chan for Streetwise Reports  (4/17/18)

Jack ChanTechnical analyst Jack Chan charts the latest moves in the energy sector.

$OSX is on a major sell signal.

Our proprietary cycle indicator is up.

OIH is on a buy signal.

XLE is on a buy signal.

XOP is on a buy signal.

XEG is on a buy signal.

Summary
The energy sector is on a major sell signal. The cycle is up. Traders can buy the multiday consolidation/pullback and hold until the cycle has topped.

See also  Energy Prices in EU Hit Record After Wind Stops Blowing

Jack Chan is the editor of simply profits at www.simplyprofits.org, established in 2006. Chan bought his first mining stock, Hoko Exploration, in 1979, and has been active in the markets for the past 37 years. Technical analysis has helped him filter out the noise and focus on the when, and leave the why to the fundamental analysts. His proprietary trading models have enabled him to identify the NASDAQ top in 2000, the new gold bull market in 2001, the stock market top in 2007, and the U.S. dollar bottom in 2011.

Leave a Comment

This site uses Akismet to reduce spam. Learn how your comment data is processed.