ARTICLE SYNOPSIS...The AMEX Oil Index (XOI) looks to have additional downside potential in the near-term but I would consider a further pullback an excellent buying opportunity.
ARTICLE SYNOPSIS...The AMEX Oil Index looks to be completing a falling wedge formation, which would indicate a potential upside breakout in the near-term.
ARTICLE SYNOPSIS...The AMEX Oil Index (XOI) has been in a two-year downtrend but is now showing signs of reversing course.
ARTICLE SYNOPSIS...Limited downside potential offers a good buying opportunity in integrated oil companies.
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?