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Energy Select Sector SPDR FundEnergy Select Sector SPDR FundEnergy Select Sector SPDR Fund

Energy Select Sector SPDR Fund

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Bullish Bat Bottom Fishing Falling WedgeCan oil go much lower? Upper trendline of FW is at 30.70 Long at entry level with an UPTREND Possible T2/Long term/ 58.6 to 67 op 10 Holdings XOM - Exxon Mobil Corp22.86% CVX - Chevron Corp22.77% COP - ConocoPhillips4.77% KMI - Kinder Morgan Inc Class P4.58% WMB - Williams Companies Inc4.55% PSX - Phillips 664.32% SLB - Schlumberger Ltd4.12% EOG - EOG Resources Inc3.99% MPC - Marathon Petroleum Corp3.64% VLO - Valero Energy Corp3.37% Not a recommendation
AMEX:XLELong
by lauralea
1
Oil and Energy Markets finding a Perfect Storm?It wasn't market makers who named the latest U.S. Hurricane "Delta," but they probably would have suggested the same name if anyone asked them. With the storm about to hit the gulf shores in the U.S. causing lockdowns in oil and gas facilities in the region, supplies of oil and natural gas are both constrained. This comes right at time when demand is increasing in the U.S. economy, and buyers are returning to the market. It could be a perfect storm for the Energy sector AMEX:XLE in U.S. stocks, and for commodity currencies such as the Aussie FX:AUDUSD , Loonie FX:USDCAD , and Pound FX:GBPUSD .
AMEX:XLELong
by gordonscottcmt
LONG XLE Nice long here. XLE broke (purple) triangle bearish but saw no follow through as it got bid up from 35.30 support on 08/27. Huge support between 34.26 & 35.30 with 34.88 being the 50% retracement of Covid low to high of Covid bounce. This support area has held since early May and should continue to hold unless we see a significant sell off in the broader markets. Falling wedge (yellow) coinciding with this support also. Could really see an explosive move here, and accompanied with a hard 34.30 stop Risk/Reward is highly favorable.
AMEX:XLELong
by cduxtrades
8