Picked up a few OSH this morning. WTIS - Oil looks over done on the down side, as too does OSH.
I think we have found a short term bottom in both (or we are very close).
Looking at the WTIS daily chart, with the stocastics flat lining in oversold territory and the RSI now sub 30, showing an oversold signal, we could get a reversal any day now, with a move back to $46 - $47.50 region. I would continue to run $42.
The daily OSH chart looking interesting, with the price action coming out of the low end of the bollinger band + keltner channel from yesterday, which suggests we could see the price action revert back towards the moving average lines $6.80 first stop and potentially the 200 day ma at $7.00.
If you are worried about further downside risk, you could run with a $6.40 stop loss.
WTIS - daily chart
OSH daily chart
OSH Price at posting:
$6.53 Sentiment: Buy Disclosure: Held
