Reversal is not confirmed but MACD and RSI both indicating possible divergence from price. This could be indicating weakness. Price needs to break out or significant sell off could happen.
After a long period of consolidation, energy broke-down of the parallel channel. Using Fibonacci retracement tools, we retraced from the 61.8% level, also known as the Golden Ratio.
It is currently trying to break its 10sma resistance (on average intraday volume - which is not great)
I would want to see a close above the 50% retracement level to feel more...
