Further upside potential in energy/resources sector
Further upside potential in energy/resources sector. The positive technical resource / energy sector theme first emerged on 2/2/14, when the major resource and energy stocks (BHP,RIO, WPL etc) generated initial technical buy signals in rapid succession. That uplift in technical ratings indicated a turnaround in sentiment, momentum and fund flow into the resource / energy sector. Further upside potential exists. As outlined in the QMG 6/2/15 wire, the WTI oil price and base metal price technicals have not (yet) turned positive / generated buy signals. However, commonly, and is the case currently, the stock technicals lead the related commodity e.g. resource / energy stock buy signals are generated prior to the base metal /oil price technicals turning positive.
Angela has over 30 years experience in the technical analysis field. She provides technical analysis coverage of major Australian and global stocks / key markets, including provision of a bespoke technical service to wholesale clients.