The Buy Signal for Oil Is In

Experience, Creativity And Dedication To Finding And Presenting The Best Investment Ideas • Aug 20, 2016 at 7:52 PM EDT

With a new major buy signal in place and the cycle having bottomed, investors can cost average in on oil stocks and/or ETFs, and hold for the long term.

Technical analyst Jack Chan documents a major new buy signal for oil stocks and ETFs that will enable investors to hold for the long term.

ChanOSX

$OSX has confirmed a new major buy signal, which can last for months and years.

ChanWTIC-1

Speculation has now confirmed a pullback bottom; expect new recovery highs in coming weeks and months.

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The bottoming process continues with a breakout imminent.

chanOIH

For the OIH, the upside price target is 55.

chanXLE

For the XLE, the upside price target is 95.

chanXEG

For the XEG.to, the upside price target is 20.

chanWTIC-3

Subscribers were advised to diversify into USD beginning in 2011, as the loonie topped. The Canadian dollar is now a buy, and investors can scale in for the long term.

Summary

With a new major buy signal in place and the cycle having bottomed, investors can cost average in on oil stocks and/or ETFs, and hold for the long term.

Disclosure:

1) Statement and opinions expressed are the opinions of Jack Chan and not of Streetwise Reports or its officers. Jack Chan is wholly responsible for the validity of the statements. Streetwise Reports was not involved in any aspect of the article preparation or editing so the author could speak independently about the sector. The author was not paid by Streetwise Reports LLC for this article. Streetwise Reports was not paid by the author to publish or syndicate this article.
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