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Update on XLE: Uptrend test, TA signaling a correction

Short
SPDR Select Sector Fund - Energy Select Sector (AMEX:XLE)  
DailyChartist  
AMEX:XLE   SPDR Select Sector Fund - Energy Select Sector
Trend Analysis Technical Indicators XLE Energy Commodities etfs ETF trading tradingideas tradingsignals
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trendanalysis indicator xle energy etfs etf trading tradingideas tradingsignals
The ETF's recovery is starting to show its first cracks as we have dropped from Yesterday's highs and closed without an attempt to buy the dip. Volumes were the around the average for the day and the fall could be mostly a result from long covering.
But there are some technicals that suggest we may return back inside the range. RSI and MACD have bearish crossovers and RIS is also below 50. MACD's histogram is going negative.
Current price is sitting on two major supports and today's price action will be an important one. This is an area for caution.

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Update on XLE: Potential continuation of the uptrend
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