Exposing Ideas to the Envelope of Serendipity

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Tuesday, March 29, 2011

Serving Up Oil

Oil service stocks have continued to push higher, pulling back only briefly to test support during the recent correction before quickly resuming their upward surge. The OIH chart has a bullish pattern in place suggesting considerably higher prices are on the way, and that these brief pull-backs in a volatile sector will continue to be buying opportunities for awhile longer. Let's see a longer-term weekly chart followed by a close-up look at the daily view.

Trade well.

-- Brinkley
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