VanEck Oil Services (OIH) forms a base

AMEX:OIH   VanEck Oil Services ETF
OIH has been on a downtrend since the monthly short signal at $897.65 on 3rd Nov 2014. It broke its 2001 lows at $278.73 and formed a new low at $66 020320.

The monthly charts show a breakout of the downtrend in the month of October with a long signal issue on 011021 at $223.25. The weekly charts has maintained above the ichimoku cloud SSSA line despite the short signal on 160821 at $178.28. A break above the week pivot of $229.25 will START a new uptrend in the medium term. This is likely if the long signal on the day charts at $188.06 on 270821 breaks and stays above $229.25

Long Term BASEFORMING since 011021

Medium Term BASEFORMING since 161120

Short Term UPTREND since 270821

PIVOT 229.25

Short positions below 229.25 for 205 and 109.23

Long positions above 229.23 for 743.09 and 899.23

Quant Strategic Singapore