Oil Stocks Are On The Move

By Peter DeGraaf
Thursday, December 21, 2017 3:14 PM EDT

Price is confirming the breakout at the blue arrow. The first target is 1385.

As long as price remains above the rising green support line – the trend is up. The three supporting indicators are positive.The moving averages are positive and rising.

Featured is XOI the oil producers index (courtesy Stockcharts.com).  

Disclaimer: Investing involves risk taking. Please do your own due diligence. Peter Degraaf is NOT responsible for your trading decisions.

Peter Degraaf is a stocks and commodities investor ...

more
How did you like this article? Let us know so we can better customize your reading experience.

Comments

Leave a comment to automatically be entered into our contest to win a free Echo Show.
Michael Molman • 6 years ago • Contributor's comment

About time, oil companies go up and catch up with the price of oil itself.

Alexis Renault • 6 years ago • Member's comment

Thanks @[Peter DeGraaf](user:4661). I'm new to this kind of charting but interested to learn more. Could you please expound upon the significance of this? Thank you. $XOI

Alpha Stockman • 6 years ago • Member's comment

Good #oil chart. $XOI.