AMEX:IEO tracks a market cap weighted index of companies in the U.S. oil and gas exploration and production space according to Dow Jones. The listed name for IEO is iShares U.S. Oil & Gas Exploration & Production ETF. Right now oil and gas have been dropping, but the reality is that they are ready to take off, there's many wars happening and other conflicts are...
IEO has a very clear suport and ressistence so my guess is that when it reaches the support I will buy and when it reaches the ressistence I will sell. This is not financial advice you do not have do follow or do anything I am saying this is just a thing I have came across and I wanted to acknowledge it.
Looking like Oil is going to take a leg down... IEO and WTI both showing Bearish Divergence, Expecting WTI to Fall to $77 ish before uptrend resumes.
test iShares U.S. Oil & Gas Exploration & Production ETF (IEO) As the name suggests, this ETF holds oil and gas companies specifically focused on exploration and production. It counts ConocoPhillips (COP), Marathon Petroleum (MPC) and EOG Resources (EOG) among its 10 largest holdings (out of 100). Right now, the IEO is the dog’s dinner – down 53% year to date....
12/Dec/2019 03:35 PM AUTHOR: Brandon Gum -- Just broke out of the RSI uniformity setup. Can still get rejected from the topside RSI line. This is a pretty ugly chart, but I still think the stop and trgt are reasonable. Still working on my targets here. Low Conviction. No position. ======================