IF you for some reasons are lost and confused finding the right Energy companies to buy, then a global Energy ETF might be suitable. It saves you the hassle of scrutinising the financial performance of the companies and allows you a bigger birds eye view of the global market.
This ETF has been falling constantly on the weekly chart as it is waiting for its exhaustion stage to retest the 20 or 30 Day WMA. It could possibly reverse all together and starting its bull trend relative to the volume. For the last week or so it has been trapped and seem to be consolidating. I have projected here the paths if the ETF breaks both the $31.79 and...
Finding different weekly support and resistance levels dating back to 2008. I am marking levels that have confirmed the price getting caught in, then when breaking either up or down it will continue that way for a short period of time. Next I will show a daily projection based off of the levels I have found.
![IXC: [ENERGY ETF] AWAITING BREAKOUT](https://s3.tradingview.com/l/lauuwmeP_mid.png "[ENERGY ETF] AWAITING BREAKOUT")
![IXC: [TRAPPING THE PRICE] *ENERGY ETF*](https://s3.tradingview.com/0/0rpGDsbP_mid.png "[TRAPPING THE PRICE] *ENERGY ETF*")
