OGE lost 0.77% yesterday, closed at $36.25

Yesterday at a glance: the electric utility company has recovered almost all of its session losses after dipping down to $36.15 yesterday.

While price action maintains a negative bias, United States CFTC Crude Oil speculative net positions released yesterday at 20:30 UTC with a figure of 172,400, while the previous figure was 162,600. United States CFTC Gold speculative net positions came out at 175,600. United States CFTC Nasdaq 100 speculative net positions released yesterday at 20:30 UTC with a figure of 8,800, while the previous figure was 8,500.

OGE Energy Corp. made an initial break below its 3 day Simple Moving Average at $36.23, a possible indication of a forthcoming negative trend. In contrast, OGE could begin to recover as it approaches significant support, now 16 cents away from $36.09. Dipping below could be an indication that further losses are ahead.

Following today's unexpected losses, extensive multifactorial technical analysis forecasts OGE to buck against its prevailing uptrend and begin to dip lower in the short term. With all probabilities considered, the the Oklahoma-based electric utility provider is expected to attract significant bearish sentiment in the coming days.

OGE was not the only decliner in the utilities sector; NextEra Energy decreases 1.11% yesterday to close at $74.9.

The Oklahoma-based electric utility provider has fallen back around 14.61% over the past 9 months, from a notable high of $42.78.