Sep 06
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Oil and Mining Stocks
- Oil and mining stocks make up 23% of FTSE 100 and 4% of FTSE 250 by market capitalisation.
- Oil has formed a double top and found resistance at $70
Oil and Gas Sector
- Head and shoulders – reversal pattern
Mining
- Weak uptrend – support from 50ema.
Other sectors of interest
- Aerospace and defence – triple bottom, above moving averages
- Beverages – In uptrend, preparing to make another attempt at resistance?
- Chemicals – Ascending triangle
- Electricity – In uptrend, retraced to trendline and 50ema
- Food and Drug Retailers – In uptrend, retraced to trendline and bouncing off.
- Food Producers and Processors – Broken through ’big number’ of 4000, Golden Cross, this could act as support for next upward move
- General Financial – Triple bottom, consolidating just below breakout level
- General Industrials – Key reversal pattern, broken out above ’ big number’ of 3000.
- Non-Life Indurance – In uptrend, broken out above consolidation
- Support Services – Triple bottom, watch for breakout
- Mobile Telecommunications – In down trend, retraced to 50ema and trend line, watch for down move.
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Posted in Educational by Greg
