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XEG: Canadian Energy a bit More Energetic?

Long
ISHARES S&P/TSX CAPPED ENRG IND ETF UNIT (TSX:XEG)  
learn2trade Updated   
TSX:XEG   ISHARES S&P/TSX CAPPED ENRG IND ETF UNIT
Trend Analysis Chart Patterns
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trendanalysis chartpattern
The daily chart gives me a little more optimism in the recovery of this beleaguered ETF and energy stocks in general. As I noted in my previous analysis, XEG has been in a downward channel for the last 10 years - wow!

Is there a chance of recovery? If it breaks $8.20 level we can see the price appreciating all the way up to $9.50. Let's see if that happens :)

Happy trading and please do your own due diligence when making financial decisions!
Comment:
Here is the link to my previous related idea:
snapshot
Comment:
Today's price action was encouraging.

I believe we are on the way towards $8.00
Comment:
$8 was successfully reached today
Comment:
Breakout happening?
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