Sep
21
Oil
ByThe oil sector has positive performances during its seasonal performance. It is currently in the second of its seasonals, which is typically weaker than the other seasonal period from February 25th to May 9th. Currently the oil sector is up and XOI is pushing up against the resistance level of 1,000. Given that the seasonal strength ends for oil later this month, investors should be cautious. It is possible for investors to use the 1,000 level as a stop loss when oil exits its seasonal strong time. If the XOI is less than 1,000, then the sector should be sold. Once again it is much better for investors to err on the side of caution given the typical upcoming time for oil.
