With West Texas Intermediate (WTI) oil trading around $100/bbl. Thursday morning, I think it is a prudent time to check on the charts of OXY and OIH again.
In the daily bar chart of OXY, below, we can see that prices have risen from early January as they have broken above the October zenith. OXY is trading above the rising 50-day moving average line as well as the bullish and rising 200-day line.
Trading volume has been strong year-to-date and the daily On-Balance-Volume (OBV) line has risen sharply since late December. A rising OBV line happens when buyers of a stock are more aggressive than buyers.
The Moving Average Convergence Divergence (MACD) oscillator has corrected slightly, but remains above the zero line.