timwest

GLD oversold relative to OIH - shorter term version

AMEX:OIH   VANECK VECTORS OIL SERVICES ETF
102 0 2
My last chart showed how GLD             was so far ahead of OIH             when it was peaking and over the past few years the price of GLD             has come down and oil-related investments have been purchased. This makes sense in hindsight, especially.

However, now GLD             has been sold down quite a bit and OIH             ( oil             services stocks ) have been purchased up to levels that seem unsustainable in the short term.

The light blue line at the bottom is the ratio of the two and it shows it is turning from a low level and a level that has been a bottom many times in the past. So, this appears to be a low-risk trade. If it is wrong, then the risk is low, which is a bonus.

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