Oil: Target hit

You may recall our recent post about Oil were we were anticipating a retracement inside a consolidation pattern.
XOI reached today its target zone (blue rectangle at 916). We hope you could make some profits from it :).
Though Oil is still in a main bullish trend, we expect more downside in the short term (see OIH chart). After the consolidation is complete we will re evalute to determine new targets.

XOI- reached 1st target.




OIH, showing weakness by gapping down and breaking support