SPDR Select Sector Fund - Energy Select SectorArca
Description
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As the last published idea, I recommended to Buy when price re-test the old bearish trendline. Besides, the price now is supported by a short-term bullish trendline. I believe the time has come for us to get a long position. However, we should consider the possibility that the price would continue to fall and return the bearish trend. There are 2 strategies: 1. Buy and set SL around 59-59.5 2. If the price breaks down the trend and hit SL. => Wait