Weekly candlesticks and fib, upper fibs new target.
Just waves based on price action.
XLE should start outperforming relative to SPY here.
Measured move is $70 if we break $55.
Log scale, similar price action to 2010.
Tight stop. $45 on close. Great risk to reward play here.
Stop below the large uptrend channel dating back to the early 90's. Target the 250/300 ema on the monthly.
Amazing base. Ready to rip to the 200 ema/sma weekly
Fibonacci extensions from 08 crash high/low and the last correction.
Stop at recent low. Holding weekly cloud and 200 ema weekly
Just for kicks.
Copied log scale 1999 bottom.
65%ish off ATH's. As long as 18.44 holds, long.
A lot are bearish and this is the potential structure that I see.
Log scale chart
Bearish to 2.92-2.90 area then up imo.