AMEX:XLE is showing signs of strength on the weekly time frame. Most oil & gas companies have had a great run YTD, and the energy is sector is among the few green sectors YTD.
ERX Energy ETF made a diamond pattern. If this is a continuation pattern, In most cases price go down first to retest bottom before going up again. Then most probably, ERX may make an island reversal pattern & recover the black uptrendline. The greater wedge pattern must also hold. Then US economy continues to avoid a recession.
If this is a diamond reversal...
$GUSH has so much latent potential in a healthy economy and is a top ETF in any energy investor's choices. To call a previous annual high back to reality would bring a rapid gain to all positioned in this ETF which is managed by Paul Brigandi. He basically put a package (assembled) today that *nearly* matched one of the emerging stocks in the oilfield arena:...
While the horizontal line continues to be drawn along the swing highs, and a rising trendline to be drawn along the swing lows, XLE is forming the ascending triangle pattern as a bullish information. The target could be taken at the horizontal line which also considered a resistance and a stop loss could typically be placed just outside the pattern on the lower...
This is only a trading capability - no recommendation !!!
Next wkk i`ll confirm or change my opinion about this SetUp :)
Buying/Selling or even only watching is always your own responsibility ...
Best regards
Aaron
Natgas currently looks very bearish on the chart. Yet, the price needs to confirm a break of the current upward trend by breaking the diagonal support with relatively high volume and snappy movement. Based on data epectations we should see NGAS reach its first support 2.88 during next week and if further favourable (the data) 2.645. If you don't currently have an...
