Oil Service Index Attempting 2-year Trend Breakout

By Chris Kimble of Kimble Charting Solutions
Monday, October 10, 2016 10:18 AM EDT

oil-rig-picture

Below looks at the Oil Service Index (OSX) over the past decade. From the highs of 2014 to the lows of this year, this index declined nearly 65%. Could it be creating an trend reversal pattern? Check it out!

oil-service-index-attempting-two-year-falling-channel-breakout-oct-10

(Click on image to enlarge)

Oil service index remains inside of two year falling channel. It potentially has created a reversal pattern over the past year.

At this time, OSX index is attempting a breakout of falling resistance at (1), which could send a positive message to the Energy Risk On trade!

We have been sharing this pattern with members since July. Some fun potential here friends!!!

If you would like to stay abreast of the Power of the Pattern in the metals space, would be honored if you were a  more

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