CosmicDust

OIH daily - pullback likely - 10/10/2015

AMEX:OIH   VANECK VECTORS OIL SERVICES ETF
OIH
11 0 2
oih
Very powerful rally last week. Is the bottom in? We do not know. Since the upper red resistance is hit, a pullback (shallow or deep) is very likely.

If the pullback is shallow (bounce up from the blue support lines), followed by a breakout, the bottom is probably in place. If the pullback is deeper, like goes below all the blue lines, it then is still trapped.
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