Further upside potential in energy/resources sector

Angela Mangan

QMG Pty Ltd

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 Mangan
Technical Analyst
QMG Pty Ltd

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.


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