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Downtrend Broken Resist.Archive
- 7/17/2026 -
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iShares Dow Jones US Oil & Gas Ex Index (IEO) Technical Analysis
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| Summary:
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| | It was a fourth consecutive positive week for the iShares Dow Jones US Oil & Gas Ex Index (IEO). During the week, the IEO gained 7.71 points, or 6.78%, and closed at 121.51 on Friday, July 17, 2026. Weekly volume was -33% below average.
 Long-term trend: [See IEO long-term trend chart]
A long-term uptrend had started on April 9, 2025 at 73.17 and reached 130.50 on March 30, 2026. IEO gained -57.33 points, or -78.35%, in 50 weeks. The price is now at the 15.68% retracement level.
 Medium-term trend: [See IEO medium-term trend chart]
A medium-term downtrend had started on March 30, 2026 at 130.50 and reached 106.57 on June 18, 2026. IEO lost 23.93 points, or 18.34%, in 11 weeks. The chart has formed a Descending Triangle chart pattern. The downtrend resistance line (106.36) is broken. Usually a broken resistance is considered to be a long-term bullish signal, but since daily indicators are overbought a short-term pull back is possible. IEO may retest the broken resistance line. It is considered to be a support line now. Use the following links to access Trend Support/Resistance Help, or use the Technical Stock Screener to see the list of stocks with broken trend resistance line in a medium-term trend.
 Weekly Technical Indicators: [See IEO weekly technical indicators chart]
Weekly technical indicators are neutral.
The weekly MACD line is below its signal line since May 22, 2026. This is an indication that the medium-term trend is down. Use the following link to access a MACD help.
 Short-term trend: [See IEO short-term trend chart]
A short-term uptrend had started on June 18, 2026 at 106.57 and reached 122.00 on July 17, 2026. IEO gained -15.43 points, or -14.48%, in 29 days. The chart has formed a Rising Channel chart pattern. The uptrend resistance line (114.64) is broken. Usually a broken resistance is considered to be a long-term bullish signal, although a short-term pull back is possible. Use the following links to access Trend Support/Resistance Help, or use the Technical Stock Screener to see the list of stocks with broken trend resistance line in a short-term trend.
 Daily Technical Indicators: [See IEO daily technical indicators chart]
Daily Williams' Percentage Range and Lane's Stochastic are strongly overbought. Use the Technical Stock Screener to see the list of stocks with strongly overbought daily overbought Williams' Percentage Range and Lane's Stochastic. Oscillators are designed to signal a possible trend reversal. They can act as alerts and should be taken in conjunction with other technical analysis tools. Oscillators can be used to confirm other technical signals. Use the following links to access Lane's Stochastic and Williams' Percentage Range help.
The daily MACD line is above its signal line since July 1, 2026. This is an indication that the short-term trend is up.
During the last week, the price has advanced above the 50 Day Moving Average. While the medium-term trend is down and daily technical indicators are overbought, the 50 Day Moving Average is considered a resistance level. The moving average crossover signals work better when the stock develops a strong trend, but they are ineffective when the stock is in a trading range. Moving average crossover systems can be effective, but should be used in conjunction with trend patterns, momentum indicators, candlesticks and other aspects of technical analysis. Use the following links to access Moving Average Crossover trading technique, or use the Technical Stock Screener to see the list of stocks with the Moving Average close to the price level.
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