With Oil ($WTIC) hitting just under the $60 level, trend line & the 38.2% Fibonacci retracement, I see a leveling off and perhaps a rally in August. The oil services companies (OIH) has put in a 50% retracement and the top holding in the OIH is Transocean (RIG). The stock is in the BUY ZONE and warrants accumulation with a stop set @ $60.
*click chart to expand image
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