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Hi Snout,Many thanks. I agree that the chart looks quite...

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13/06/22

06:59

Post #: 61968931
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Originally posted by snout: ↑

To my eye it's working off the overbought nicely, very promising set up, looks to have re-tested the breakout of the pennant.
Great vehicle for leveraging any further upside in POO.

View attachment 4433197
My only concern is oil stocks are looking overbought....WDS has been good but I am in two minds here, it's sitting way above the 20sma and has left a gap, admittedly on massive volume...breakaway?

Similarly energy stocks/indices in the US look like they need to cool off a smidge.

View attachment 4433209

Thanks all for the weekend musings on the XSO .... raining outside or just an interesting time in the markets

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Hi Snout,

Many thanks. I agree that the chart looks quite interesting, and it's a convenient ETF to play it with. That said, I can't quite commit to buying as yet. I mean, what if peace breaks out in the Ukraine? What if the right gets in in the US and resumes fracking? What if fuel demand is quashed by Fed tightening?

Hmmmm.

XSO Value at posting: 2,854.9
3 Upvote

0 Great analysis

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