A Major Sell Signal in Energy
Source: Jack Chan for Streetwise Reports
April 17, 2018 (Investorideas.com Newswire) Technical analyst Jack Chan charts the latest moves in the energy sector.
$OSX is on a major sell signal.
Our proprietary cycle indicator is up.
OIH is on a buy signal.
XLE is on a buy signal.
XOP is on a buy signal.
XEG is on a buy signal.
The energy sector is on a major sell signal. The cycle is up. Traders can buy the multiday consolidation/pullback and hold until the cycle has topped.
Jack Chan is the editor of simply profits at www.simplyprofits.org, established in 2006. Chan bought his first mining stock, Hoko Exploration, in 1979, and has been active in the markets for the past 37 years. Technical analysis has helped him filter out the noise and focus on the when, and leave the why to the fundamental analysts. His proprietary trading models have enabled him to identify the NASDAQ top in 2000, the new gold bull market in 2001, the stock market top in 2007, and the U.S. dollar bottom in 2011.
1) Statements and opinions expressed are the opinions of Jack Chan and not of Streetwise Reports or its officers. Jack Chan is wholly responsible for the validity of the statements. Streetwise Reports was not involved in any aspect of the article preparation or editing so the author could speak independently about the sector. The author was not paid by Streetwise Reports LLC for this article. Streetwise Reports was not paid by the author to publish or syndicate this article.
2) Jack Chan: We do not offer predictions or forecasts for the markets. What you see here is our simple trading model, which provides us the signals and set-ups to be either long, short, or in cash at any given time. Entry points and stops are provided in real time to subscribers, therefore, this update may not reflect our current positions in the markets. Trade at your own discretion. We also provide coverage to the major indexes and oil sector.
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Charts courtesy of Jack Chan
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