DROP EXPECTED {{HTML1}}From a technical view, the ETF has validated a Head & Shoulders pattern which is a bearish pattern.

Regarding technical indicators, the daily RSI is reversing down from a declining trend line while the 20D moving average (red line) is acting as a resistance.

On a relative basis against the IVV S&P500, the iShares Dow Jones U.S. Oil Equipment & Services Index Fund has struck against its declining 50D moving average (blue line) and looks set for a drop.

Trading strategy:

Short Sell @ $49.08 - Stop loss @ $50.60 - Target @ $44.65

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