NEW YORK ( www.TheGoldAndOilGuy.com) -- Oil and gas along with their equities have been underperforming for the most part of 2012 and they are still under heavy selling pressure.I watch the oil futures chart very closely for price and volume action. And the one thing that is clear for oil is that big sellers are still unloading copious amounts of contracts, keeping the price from moving higher. Oil is trading in a very large range and is trending its way back down the lower reversal zone currently. Once price reverses back up and starts heading toward the $100 and $105 levels, it will trigger strong buying across the entire energy sector. The chart below shows the light crude oil price along with the energy and utilities sectors. The patterns on the chart are clearly pointing to higher prices, but the price of oil must shows signs of strength before that will happen. Once energy stocks ( XLE) and utilities ( XLU) prices break above their upper resistance levels (blue dotted line) they should takeoff and provide double digit returns.