- They are "Twins" in long term.
- In short term, since last high on MAY 17, 2018, OIH is weaker than XLE.
- Lower lows and lower highs for OIH
- OIH is on the supportive price formed by last two reversing points
- XLE does not hit the lower, instead it has a higher low which looks like it has reversed the downtrend
If XLE is the right, it means OIH has found or is close to its support too. Then the twins will climb up in the next weeks.
If OIH is the right one, XLE will fall down from its supportive neck line which remains effective in the past 3 months.
If this time is not typical, then who knows.
Personally I prefer the former one, there is not much room for OIH to go down according to the historical low in JAN 2016.
- In short term, since last high on MAY 17, 2018, OIH is weaker than XLE.
- Lower lows and lower highs for OIH
- OIH is on the supportive price formed by last two reversing points
- XLE does not hit the lower, instead it has a higher low which looks like it has reversed the downtrend
If XLE is the right, it means OIH has found or is close to its support too. Then the twins will climb up in the next weeks.
If OIH is the right one, XLE will fall down from its supportive neck line which remains effective in the past 3 months.
If this time is not typical, then who knows.
Personally I prefer the former one, there is not much room for OIH to go down according to the historical low in JAN 2016.
Trade closed: target reached:
Good gain since last common. Now they are facing resistance, Hold your position rather than increase.