US energy sector is deeply OVERSOLD

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This is a chart of the triple-leveraged SHORT energy ETF . The indicator at the bottom shows the departure of price from SMA 50 (classic OB/OS detector), and short ETFs tend to make peaks and troughs easier to follow.

Barring a mini-crash similar to that of 2011, the damage should soon stop. That said, another mini-crash or even full-on bear market would not be shocking at this stage of the cycle.

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