$OIH - RC -
Added 2023-12-20 10:55:49 +0000 UTCVanEck Oil Services ETF.
I had to go back as far as the 2008 GFC to properly determine the trend and wedge here to figure out the potential trajectory next.
The price action has stayed in a bullish trend since its Covid 2020 low and is approaching an important resistance line at our blue line at $410, a flip of this resistance line to support line and $OIH is shaping positively for a breakout of this large wedge, if successful, the Targets are above as shown.
Any rejection at the blue line or wedge breakout level and $OIH could come down to the bear case.
