SPDR Select Sector Fund - Energy Select SectorArca
Description
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Confluence of CD=1.618 AB, 2.24 BC extension and 1.618 leg of the Deep Crab pattern all converge in a tight area between 95.62 and 101.40. In addition to this they converge to the logical number 100.00. Hence a pull back, not a reversal, sounds like a tempting trading idea.
Stop Loss order: 103.00 Entry: 97.45 Target Profit : 75.00