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PeakTrader.com Economics, Portfolio Optimization, and Technical Analysis
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arthur Guest
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Posted: Sat Sep 04, 2004 1:00 pm Post subject: OIH (with chart) |
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OIH topped at over 100 in late 2000 (just before the country fell into recession). OIH has generally held its rising 40 week MA and made higher highs recently. Also, RSI has been making higher lows and lower highs recently, which may indicate an eventual big move one way or the other. If OIH rises above 78, then it may continue to rise to around 90 (the congestion area). However, that may not happen soon without a severe oil shortage or stronger economic growth. Also, OIH seems to rise or fall on inflation expectations (with other commodities). Nonetheless, OIH may be a buy near its 40 week MA.
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