jangseohee

XLE, channel support broken

AMEX:XLE   ENERGY SELECT SECTOR SPDR FUND
35 0 1
I reckon a lot of players hates this sector including the Sheikhs
the broken uptrend channel support speaks for itself. There is another layer of support IMHO at around 70.
And i am skew to SUSPECT that by 31 Dec, price will somehow find its way back into the support thereby
making the "Wick/lower shadow" in Dec monthly candle. No promise.

As per my post on "Wave 5 brewing for XLE", my short entry was triggered at 88.06 and i have thus fully exited at 75.45.


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