European Oil & Gas: a fresh buy signal
STOXX Europe 600 Oil & Gas ETF gains 4% and opens a fresh buy signal
European Oil & Gas: a fresh buy signal
Our view last week
On the European Oil & Gas sector fund the picture just shifted: after touching its 20-day moving average (the 51 area), the price bounced 3.5% with 83% of the week's volume on the buy side. Compared with last week's flat, distribution-heavy tape, the weekly RSI climbs to 56 and the ADX drops to 26: the decline is losing conviction. Money flow stays negative and distribution continues: the sell signal, now in its fifth week, still hasn't confirmed.
This week's summary
The European Oil & Gas sector fund has flipped to a fresh buy signal: after last week's bounce, the STOXX Europe 600 Oil & Gas ETF added another 4% and extended a run of higher lows to clear the 51 area. In our weekly EXH1 technical analysis the picture still needs care: price is already hugging its recent highs, volume has thinned out, and distribution hasn't fully cleared. It's the last of this week's five fresh European-UK buys, with a signal strength of 43 out of 100.
IQS Phase
58
ordinary
Signal Strength
43
medium · weak
Sizing
REDUCED
Ranking
#5 / 5
New eu-uk stocks
Trade P&L %
+0.00%
from signal to today
Rank position
ranks 5th among the 5 fresh Longs for European-UK stocks in our ranking, with a signal strength of 43 out of 100.
Sector context
SectorETF Settoriale
Benchmark ETF—
Sector regime
Performanceweekly coming soon · monthly coming soon
EXH1 belongs to the etf settoriale sector (reference ETF ).
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