649bruno
Short

XLE: Running Out Of Energy?

AMEX:XLE   ENERGY SELECT SECTOR SPDR FUND
29 0 3
I feel the XLE             has just about run out of steam.
There is substantial resistance at $70. A five wave harmonic pattern with three a-b-c corrective waves has just been completed.
This configuration has not yet rolled-over, but I think it will as the price approaches the 89 day moving average (golden-yellow line).
For those of you who think the USD will get stronger, it stands to reason that the energy sector will get weaker.
I hope this contribution has been helpful. May all of your trades go well. Don.
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