XLE about to prepare for a spurt to the north?

See how price reacts at the centerline/slding/AR-Lines ?

The SWAP in Nov. 16 marked the range and of course it has to come back to breath out.
Lastly the weak hands got scared out by a very hard and final drop (red bar).

Now I can imagine that time is right to collect some premium on the downside.
Even a RiskReversal my be a good trade.

P!