XLE Strong move this month. First Target 67.32. Next is 71 +
Oil is in an Uptrend, Higher Highs and Higher Lows. Should bounce at support zones 59.40-57. Read notes.
XLE is the ETF of the S&P Oil and Energy Sector. If you have to buy anything... This should be it right now. Oil could spike up when the Russians roll (which will be any day now). If you see 60, might be a good entry. Oil could easily see $100 a barrel or more very soon. if you can swing it...February calls would work.
In this video, I want to show you how the XLE is behaving in a multi year trend and what I expect in the next few weeks. Disclosure: These are my opinions and should not be taken as investment advice. I only draw lines on charts.
An inside bar / pin bar fake out pattern has formed on the XLE weekly chart. This pattern has formed just below a key resistance level as well as the 50% retracement of the last swing high/low, which is exactly the area we want to see this form. One negative with this setup is that price has formed a very sharp v-shaped reversal off it's lows. That doesn't mean...
The energy sector has been performing badly over recent months, but not as bad as basic materials sector. Specifically leading the problem in the energy sector are oil & gas drilling, oil & gas exploration and production, oil & gas refining and marketing, oil-related service and equipment, renewable energy equipment & services, and uranium industries. These...
Weekly stoch on ETF They also will rigg banks know earnings done and they sold off XLF