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Monday, 25 June 2018

FTSE ST Oil and Gas Index: 25 June 2018, Monday, 12.05pm Singapore Time

FTSE ST Oil and Gas Index:
25 June 2018, Monday, 12.05pm Singapore Time
(Click on Technical Chart above to Expand)

Attached is the Technicals for FTSE ST Oil and Gas Index. It is the technicals reflecting the Oil and Gas (O &G Sector) trend. The series of red and green circles illustrate how the Oil and Gas Sector transited stealthily from a long term downtrend to a new long term uptrend. The price structure is large scale, so the upmove brewed will be large in scale. The sector is using current trade war fear to execute a treacherously deep backtest of resistance-turned-support band as illustrated on chart. The next expected upmove is illustrated by the dark brown trajectory. The Orange circled region is where new uptrend had been confirmed in early 2018. The oil and gas sector worldwide has just switched from winter to spring. Worldwide bull market has plenty of legs and plenty of upside. This backtest of supports worldwide is completing soon, and had achieved confirmation by using fear. Outlook: Bullish Bias.

Related Analysis of Today (USD Index):
http://donovan-ang.blogspot.com/2018/06/the-us-dollar-25-june-2018-monday.html

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