European Oil & Gas: the sell signal fades
European Oil & Gas ETF flat (+0.7%): the sell signal loses steam
European Oil & Gas: the sell signal fades
Our view last week
The iShares STOXX Europe 600 Oil & Gas sector ETF is in week 3 of a sell signal, and this week price bounced 2.7%: signal strength drops to 24 out of 100, a decline losing steam rather than one running out of room. The setup quality indicator, at 62 out of 100, stays in the ordinary range, and the fund ranks 28th among the 54 European sell signals.
This week's summary
Weekly technical analysis. On the European Oil & Gas sector ETF, the sell signal has reached its fourth week without ever convincing: this week the price stayed almost flat (+0.7%), squeezed into a very tight range, with volumes contracting and a distribution phase underway. Signal strength drops to just 2 out of 100 — a decline losing steam — and the fund slips to 44th among the 54 European sell signals. The setup quality indicator is climbing, a sign of building tension: the picture calls for
IQS Phase
78
in tension
Signal Strength
2
decline losing steam
Sizing
MINIMUM
Ranking
#44 / 54
EU-UK stocks sell signals
Trade P&L %
+1.52%
from signal to today
restricted Platinum content