here’s an update to the BUY of the RATIO of OSX/NYA. couple things to note:
- pattern held and note the move UP in Crude pretty much the same day the pattern hit
- it’s not that much of a bounce …would expect it to have been bigger, especially w/ the move in Crude and the Loonie vs USD.
- also, note the divergence in the ratio as the crude oil continued higher. this has usually led to a move lower in crude …
- stay tuned, does this spell weakness ahead for Crude and the Loonie?
here’s the RATIO of $OSX / $NYA. it has a buy pattern HERE or a little LOWER.
below that is crude and CAD vs USD (USDCAD inverted) overlaid on top of the ratio.
they move together
so IF this BUY pattern works THEN we have a big move coming BULLISH for Crude and the Loonie.