SPDR Select Sector Fund - Energy Select SectorArca
Description
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There is a double bottom pattern dating back to late August. Energy has been the laggard YTD & is the only sector in the red over the last year. This may be the beginning of the sector finding some strength.
If you take the Fibonacci 161.8% extension that gets you to a target of $68.79. The actual pattern breakout price target would be $71.60.