XLE bearish wave analysis

Short

SPDR Select Sector Fund - Energy Select Sector (AMEX:XLE)

AMEX:XLE SPDR Select Sector Fund - Energy Select Sector

XLE has had many black candles in a row and is breaking a very strong support. A Lot of bearish volume too. I am bearish longer term on energies (until about Mid 2016)

Wait for the retest on XLE before going bearish is my plan.

Thanks for helping us Enrich Lives!

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.