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themarketzone

Triangle Pattern in focus

SPDR Select Sector Fund - Energy Select Sector (AMEX:XLE)  
themarketzone  
AMEX:XLE   SPDR Select Sector Fund - Energy Select Sector
Trend Analysis Harmonic Patterns Chart Patterns XLE Oil
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trendanalysis harmonicpatterns chartpattern xle oil
XLE price is trading inside a Triangle pattern - between the 200 days MA line and the trend line marked in the chart.
A close below 60$ will probably drive XLE lower, towards 56$
A close above the 200 days MA line can lead to a rally that will take XLE all the way up to complete two bearish harmonic patterns (near 65-66$)
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