Oil Services ETF -OIH -Daily Downtrend Projects 34.3, 36.7 last
Using Time@Mode Analysis:
When OIH peaked in May just shy of $40. Since the peak you can see that it has been a slow-grind to the downside with price action indicating a steady stream of selling pressure.
When you watch the number of days keep building up at lower and lower levels and the price slowly grinds down, you can make projections to even lower levels still. The current price of 36.68 could fall to 34.33 to balance out the current wave of selling. We use use a stop that is as close as 1 point to target a move of 3 points.
You can see on the left hand side of the chart that OIH has moved consistently with the power of the Time@Mode analysis.
Tim 4:22PM EST, June 9, 2015
When OIH peaked in May just shy of $40. Since the peak you can see that it has been a slow-grind to the downside with price action indicating a steady stream of selling pressure.
When you watch the number of days keep building up at lower and lower levels and the price slowly grinds down, you can make projections to even lower levels still. The current price of 36.68 could fall to 34.33 to balance out the current wave of selling. We use use a stop that is as close as 1 point to target a move of 3 points.
You can see on the left hand side of the chart that OIH has moved consistently with the power of the Time@Mode analysis.
Tim 4:22PM EST, June 9, 2015
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