Monday, April 9, 2007

Oil Market Sectors Looking Interesting From a Technical Perspective

The following charts are from Prophet.net. They are 5-year charts.

I've been watching various sectors of the oil market for the last few months. Three sectors are technically interesting right now.

Drillers and Explorers have moved above the upper trend-line of a consolidation move.

Photo Sharing and Video Hosting at Photobucket

Refiners have made a nice move above an upper-line of a consolidation move.

Photo Sharing and Video Hosting at Photobucket

Equipment stocks have broken out from a consolidation move as well

Photo Sharing and Video Hosting at Photobucket