For today's chart, we've chosen to take a look at OIH because it is approaching the neckline of a head and shoulders pattern. As you know, technical traders will use a move below the neckline ($130) to suggest a probable move lower. We'd expect that most technical traders will remain on the sidelines and watch to see if the bears will be able to push the price below the support. Generally, we would include a pattern like this on our watch list but given the size of this ETF, we have chosen to include it in this report instead.
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