BALTIMORE ( Stockpickr) -- With most markets looking wishy-washy to start the week, it's time to take a technical look at what's going on with the biggest name stocks on Wall Street.
In case you're not familiar with technical analysis, technical charts are used every day by proprietary trading floors, the Street's biggest financial firms and individual investors to get an edge on the market. And according to some sources, skilled technical traders can bank gains as much as 90% of the time.
Every week, we take an in-depth look at large-cap stocks that are telling important technical stories. This week, the focus is on oil.
Related: Does Technical Trading Really Work?There's been plenty of attention on oil stocks in the last couple of months as inflation fears and tumult in the Middle East. First, as oil prices rallied hard in the month of April, investors were clamoring to get onboard with oil trades. Now, with crude prices down considerably this morning, investors are wondering if this industry has played out. We'll attempt to answer those questions today. Now, on to this week's stocks.