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Important time here for OIH. After hitting gap resistance at the 156-157 area, OIH has fell back and is now trying to keep above some key support areas. A break of the 135-133 support zone would cause some more serious technical damage. Declining tops t-line now in force and to be respected until price can break through.
Here's a stock that i like from this group. Very strong anomalous momentum supported by strong volume (lower pane) is denoted by the histogram spikes since the 21July low. Not shown is the fact that ESV is displaying very good relative strength vs it's group composite and good group strength vs. "the market".
If you're in to chart constellations , one could imagine a reverse H&S unfolding also.
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