XLE is energy stocks turning around?
XLE energy sector is underperforming the market in the last 3 months
a look in the long term chart reveals a steady uptrend starting in mid 2012
then in feb 2014 price become more assertive and didn't have a "real" correction
fib retracement show support at 94$ and price action today may suggest that the correction is at its end
crossing the dashed black line will be confirmation to resume uptrend
1st resistance at 98.5$
if price crosses resistance raise stop instead of taking profit at 130.6
as long as the channel is intact price will go higher
a look in the long term chart reveals a steady uptrend starting in mid 2012
then in feb 2014 price become more assertive and didn't have a "real" correction
fib retracement show support at 94$ and price action today may suggest that the correction is at its end
crossing the dashed black line will be confirmation to resume uptrend
1st resistance at 98.5$
if price crosses resistance raise stop instead of taking profit at 130.6
as long as the channel is intact price will go higher