iShares S&P North American Natural Resources (IGE): Death Cross

iShares S&P North American Natural Resources (IGE) just flashed a death cross.

iShares S&P North American Natural Resources (IGE)
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IGE is possibly setting up a head an shoulders pattern that has already broken the neckline area.

If the neckline area turns into major resistance the bears will be aiming for the October lows.

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.