has been under pressure for quite some time. As a whole, the energy sector has been beaten down severely and is historically cheap. I do not believe this will last. We can certainly have another big drop
and even take out March lows but I wouldn't count on it. There are some BIG BIG BIG changes heading our way and we will look back on these days and regret not paying closer attention to energy.. Look at what's cheap.. look at what's expensive.
BTW, we're at a critical junction here. There's a 3x hidden bear divergence that has been respected on weekly timeframe
. I think this could push price lower. I sure hope so. But big picture is wildly explosive.
here's a chart on XLE
(energy compared to tech). What do you think is the better deal?