novvoll12
Long

XLE $82.98: Formed a 5-month base on breaking above 82.43

AMEX:XLE   SPDR SELECT SECTOR FUND - ENERGY SELECT SECTOR
XLE             formed a 5-month base over 71.70 on breaking above the 82.43 range ceiling (February 16, 2015), triggering further bullish momentum towards the next resistance levels including 85.97 (March 10, 2014 higher low) then 89.22 (November 17, 2014 lower high). The immediate support levels are 80.30 (21 week moving average) and 79.21 ( April             13, 2015, near 200 week moving average) which should hold dips.
Outlook:
Short term: Buy on pullbacks
Long term: Bullish
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