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EvanMedeiros

Bullish island reversal with positive momentum divergence

Long
SPDR Select Sector Fund - Energy Select Sector (AMEX:XLE)  
EvanMedeiros  
AMEX:XLE   SPDR Select Sector Fund - Energy Select Sector
Support and Resistance Candlestick Analysis Supply and Demand Energy Commodities XLE islandreversal Bullish Patterns bounce
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supportandresistance candlestick supplyanddemand energy xle islandreversal bullish bounce
The SPDR Select energy sector ETF (XLE) is gapping up to kick off the week and creating a 2-bar bullish island reversal at prior support and with bullish momentum divergence. This could be exactly what the bulls needed to kick this prior leader back into gear.

No position personally, but looks good for at least short-term continuation.
Evan Medeiros
Founder, Trade Risk
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