Technical analysis of the Oil services sector

A bottom is here,

 

After the bear market of 2014-2016 the industry has seen consolidation and cost cutting. And oil prices haven’t recovered a lot. However the US fracking market and LNG markets have both grown in the US. And, the majors have started opening their exploration budgets again.

 

Our technical analysis shows that if there is no recession this is one of the most undervalued sectors.

 

HH