The bullish percent index is a momentum-based indicator that generates buy and sell signals based on oversold and overbought conditions. A sector is overbought when the BPI rallies above 70 and then turns lower. The oil sector is oversold whenever BPENER drops below 20. It generates a buy signal when it turns higher from oversold levels what exactly happened last week.
Once again...
Once again...
Look to the red line which is the BPENER(GY).
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