ARTICLE SYNOPSIS...The Computer Hardware Index broke upward from a short-term bearish reversal formation and induced fresh bullish energy. Let us understand the significant supports that can carry the index higher.
The AMEX Oil Index is Facing Significant Trendline Resistance
ARTICLE SYNOPSIS...The AMEX Oil Index (XOI) gave a false buy signal last week when it broke a double top in the 460 to 465 range. Significant trendline resistance would have alerted traders to an upcoming reversal in the Index.
ARTICLE SYNOPSIS...The AMEX Oil Index (XOI) has been capped by its 50-day moving average since July of this year. With this moving average coming into play once again, could the XOI be setting up for a short-term top?