Oil and Gas Sector Update
1) Uptrend- Still obeying the uptrend line
2) HH - Formed Higher High and retracing. Note need to ensure it does not break the support line at 53.91 if not Higher low will not able to be formed and this will reflect a downtrend
3) Macd- Positive
4) RSI - Overbought and potential to see a slight retracement
5) ADX - at 50% which is very strong momentum
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Sunday, January 16, 2011
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