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benjihyam

$XLE looks like a short- back to $60?

Short
SPDR Select Sector Fund - Energy Select Sector (AMEX:XLE)  
benjihyam  
AMEX:XLE   SPDR Select Sector Fund - Energy Select Sector
Support and Resistance Supply and Demand Economic Cycles XLE Energy Commodities indexes
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supportandresistance supplyanddemand economiccycle xle energy indexes
I know everyone wants to be bullish energy, and I agree with the thesis over the long term, but the shorter term looks ugly.

XLE looks like it's topped out here and wants to fall back to the $70 range, or below back to $60 (as this region has never been tested as support on the way up).

I'd be a seller here and not a buyer. I do think a drop to $60 or so is a good long term buy.
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