The daily chart gives me a little more optimism in the recovery of this beleaguered ETF and energy stocks in general. As I noted in my previous analysis, XEG has been in a downward channel for the last 10 years - wow!
Is there a chance of recovery? If it breaks $8.20 level we can see the price appreciating all the way up to $9.50. Let's see if that happens :)
Happy trading and please do your own due diligence when making financial decisions!