TSX Energy XEG 12.66 2022 Low and more ?

I was overweight energy for most of 2022 selling my exposure around the summer and the remaining in the fall.
It was not and easy decision but the trend in WTI and Brent prices was too bearish to ignore.
Seems to me now It's only a matter of time we take out the 2022 low of 12.66, the more intriguing question is where we go once we get there ?

On the weekly timeframe top left we can see the 50 weekly ma acting as support for most of 2022 now we appear to be losing it.

The Daily timeframe top right we can see the 20 day ma the black line has finally crossed below the 200 day ma you have to go back to January 2020 the last time this took place and before that fall 2018. Seems obvious it's only a matter of time before all moving averages are below the 200 on the daily.

I am a long term energy bull due to the supply constraints we are facing and lack of investment but for the beginning of 2023 first quarter at least with calls for a recession growing I don't see the upside for Oil or energy stocks, yes I know they pay great dividends but I don' t think this will save them from a market downturn.

I am patiently waiting on my cash to re enter this sector ideally in the spring