timwest

OIH - bottom of upward channel - buy candidate

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AMEX:OIH   VanEck Oil Services ETF
0
Oversold at the bottom end of a channel that I drew free-style which includes a couple of pops above the top end of the range....

Not a well thought out trade here - just oversold at a potential level for a bounce based on past declines. This isn't normally how I trade, but I know some of you do trade this way, so here is a chart for you.

How's that for directness?

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