I finally figured this out by looking at the XLE chart, see below. This interpretation is much more logical than the previous 4. And that's how we human being learn, through trials and errors.
It turns out oil is leading XLE by about a day.
It turns out oil is leading XLE by about a day.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.