$XLE Bear Flag AMEX:XLE Bear Flag on the weekly chart, Close on a weekly basis first target is the horizontal line.
About SPDR Select Sector Fund - Energy Select Sector
XLE/SPY Relative ratio long termXLE/SPY Relative ratio long term, now at 2008 levels, still looks good on short term daily charts
XLE - Cracked longterm uptrend supportBig-cap oil has been lagging behind the broader energy market, particularly the correlation between AMEX:XLE and $WTI.
The break of this trendline is significant and could result in big move down for large-cap O&G.
XLE Roadmap May 2023One year of correction in energy likely ends early June which arguably does not bode well for headline inflation going forward
XLEEnergy wants to go higher.
Still some ways to go before the neckline line at 87.39 but the inverted H&S is showing
Will history repeat? XLE outperformed XLK in 2000In the year 2000, the energy sector represented by XLE outperformed the technology sector represented by XLK. The trend seems to be repeating itself as we witness the commodities boom occurring just as the tech boom slows down.
This begs the question, will history repeat itself?!
During the tech b
Ascending Triangle On The Daily Chart Ascending triangle on the daily chart w/ a strong setup for more upside contingent on a daily close above the ascending triangle resistance at $87.20.
XLE Energy Select Sector Price TargetAfter the Organization of the Petroleum Exporting Countries supply cut and considering the Elliott Wave Chart Pattern, i would say the next price target for XLE Energy Select Sector SPDR Fund is $92.60.
Looking forward to read your opinion about it.
Long XLE and XOP, wedge breakout Breakout based on OPEC's recent oil-cut by +1,6Mbpd
Good timing with the wedge tightening as well, great Risk here.
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