This sector has been on a pretty good run and seems to be running out of steam and is trying to fall past the gray support line for the last run near a longer term resistance line. This leads me to believe that the sector is nearing the top for the time being. As so, I do not feel this is a good spot to be adding to any long term position. The dividend yield...
Taking a look at this as it a commision free energy ETF on Fidelity, Looks like a textbook bullish flag is forming. I personally am hoping for a slight retrace to 21.00 before and explosion to 23 and beyong. Weekly chart so may take a month to play out but something to monitor alongside the price of oil