XLE - people are bullish.... but...A lot of people are bullish in Oil just like a lot of people were bearish when Oil was over $140 and Bearish when Oil was down a year ago.
You have to look at your chart and trade when you are confident.
I was confident in Late march and in November.
Right now, I prefer to stay aside and wait for the fog to clear. IF it is bullish, there will be plenty of chance to trade.
Trade ideas
XLE Upside Idea XLE is seeing a bullish crossover on the macd on the daily timeframe and holding pivot support. I believe we can see a bounce off these levels and test the previous high. With reopening in focus and strong performance in energy in the recent week (also earnings of big energy names such as XOM on friday) we can see a potential quick rise in energy stocks.
energy and oil can go crazy so after listening to powel today i saw many things
people don't want cash
they want bonds, they want stocks, they want housing
I think the amount of buying we will see will be crazy and the inflation will go up. i don't necessarily invest like i believe there is inflation but there is
Powel basically said let inflation go up not a problem
oil can go crazy bc it is a measure of inflation in gas prices in a way and the supply chain issues are still bad
i think XLE can see $55-$65 soon
I think oil goes crazy into the summer and chills in highs during summer and then I need more information to talk after that
anyways I think everything is crazy bullish
I don't think anything is in bubble territory yet
watch for more "GME" situations crazy NFT prices and fear in the fed
besides that our so far %90 earnings beats says it makes sense for us to go higher
good luck traders :)
XLE Long September 50 CallsJumping into XLE here.
Oil will need to rebound if the market intends to press on, and we see this as a highly likely scenario.
We also had a very nice bounce off the 50% Fibonacci line, as well as a confirmation of support on the 50 EMA.
With a bullish market and multiple entry factors, this looks like a perfect setup for a 10/20% option return.
Feel free to follow this thread as we will be posting updates as this thing moves like all of our trades.
Good luck, All!
50EMA break $XLE, simple analysisXLE looks to be entering a downtrend. If the 50EMA break holds, we should be heading towards the low 44s. RSI is in a downtrend as well. MACD crossing into the bearish territory.
This is a decent EFT to have in your LT portfolio with a ~5.5% dividend. Low 40s would be nice. Mid to high 30s would be great.






















