iShares Dow Jones U.S. Oil Equipment & Services (IEZ): Death Cross

iShares Dow Jones U.S. Oil Equipment & Services (IEZ) just flashed a death cross.

iShares Dow Jones U.S. Oil Equipment & Services (IEZ)
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The golden cross signal from early March has failed.

One bearish scenario to keep in mind is a break of the key support area near $48 an it turns into a major resistance area.

For Reference

The death cross (technical formation when the 50-day moving average drops below the 200-day) can be used as a filter to help narrow down the field. Next, use the Seven Steps to Better Stock Trading to evaluate the sentiment and price action. Better yet, sign up for The Select 20 Stock Picks or use my free Total Indicator for eSignal.