About VanEck Oil Services ETF The investment seeks to replicate as closely as possible, before fees and expenses, the price and yield performance of the MVIS® US Listed Oil Services 25 Index. The fund normally invests at least 80% of its total assets in securities that comprise the fund's benchmark index. The index includes common stocks and depositary receipts...
If the low is indeed in, one could create a case for a bullish outlook on oil, $OIH. I personally have a bullish outlook on the Energy and Oil sector. This ETF is no different. Will update as time progress.
Oil stocks will pump like cryptos once this ratio bottoms. Bullish divergence forming. Please like and share if you appreciate this market update. We are algorithmic traders and certified Elliotticians. We publish Elliott Wave counts for indices, stocks, cryptos, commodities, VIX, DXY, in weekly, daily and 4-hour timeframes. We also answer all your questions...
I AM moving to puts for jan in OIH AT THE MARKET MAJOR PEAK
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...
A lot of analyst have been publishing bullish outlooks for AMEX:XLE . But we have AMEX:OIH in our portfolio for long term position and now is also making several bullish signs. Bullish divergence with the MACD, above average buying volume and price action making a head & shoulders pattern (reversal pattern). This trade would be a short term trade. The buy...
Appears to be a descending channel happening on the Monthly TF. Is the reversal happening? I believe so with the resurgence play still intact this thing is a ticking time bomb. Oh and airspace on the MACD this setup appears extremely bullish. I'm a buyer here on leaps and common stock and plan on holding for the next 5-10 years I will retire at 35.
Fundamentals within OIH ETF still look very good coming up on earnings, and the Bullish trend still looks in play. Expecting a bounce very soon and a possible double or triple for OIH long term. Check the history on whenever OIH has been this oversold. Could be biased, but I am bullish. Life of a contrarian #Bullish
It's just not dropping to test that lower resistance. Bullish ? Bearish engulfing candle yesterday and it's just shaking it off right now. So stop loss under support and let's go then !
Another view / idea for OIH. Lot of hype lately on this trade. Looking at it this way looks like it's up against 2 diff resistance areas. Pullback is needed for sure just how far it falls is the question. CPI numbers out tomorrow so the a lot of peeps waiting on that number before making any moves as well.
Candle on Friday was tell sign for a pullback after a great run up. Looking for a pullback to prior resistance that we broke out of that we probably need to backtest. 230 area then re enter there.
After almost 7 years of bearish price action, oil services will be essential in the transition to electric vehicles and clean energy. Most automakers are shooting for 2025 to have an entire EV fleet or mostly EV fleet. That's a 4-7 year runway for a bull run; assuming that it will take time to transition and for all automakers to be on the same page. Freight and...
Now that we cleared that little resistance area of those 2 spots...we're off. nice price action. Volume is up as well. have a little resistance coming up then other one right after. not a whole lot of resitance on this asset.....when oil is 80 a barrel this stock is usually over 700.
Monthly view......OIH broke out a few of months ago. spent the next two months backtesting the last month resumed the uptrend. the 618 retrace on this pattern is over 700 dollars. Possible 3x. Tom Lee of fundstrat is calling for 700 plus as well. Might take some months to get there but could be a good one if oil stays at this level or higher.
Looks like a pretty good set up, especially with oil having a very high demand.
They're saying the biggest demand for oil in history is coming as the world opens up. this just broke out of a supply line that it's been under since 2014 ! was 1100 dollars then !! Possible 3x if oil hits 80 a barrel.