XLE looks like a reversal candidateReversal is not confirmed but MACD and RSI both indicating possible divergence from price. This could be indicating weakness. Price needs to break out or significant sell off could happen.
Key stats
About iShares U.S. Energy ETF
Expense ratio
0.40%
Home page
Inception date
Jun 12, 2000
ISIN
US4642877967
IYE covers the energy segment of the US large-cap equity market. The fund holds a concentrated portfolio of companies that facilitate production and distribution of oil and gas. The underlying index is part of Russells US large cap sector indicesa series of representative indices that integrates ICBs sector classification framework on Russell 1000. Holdings are market-cap-weighted, subject to regulatory capping which limits single security weights at 22.5% and aggregate weight of securities exceeding 4.5% allocation at 45%. Index rebalancing occurs quarterly. Prior to September 20, 2021, the fund tracked the Dow Jones U.S. Oil & Gas Index.
Classification
What's in the fund
Exposure type
Energy Minerals
Industrial Services
Stock breakdown by region
Energy finally finds support /FibonacciAfter a long period of consolidation, energy broke-down of the parallel channel. Using Fibonacci retracement tools, we retraced from the 61.8% level, also known as the Golden Ratio.
It is currently trying to break its 10sma resistance (on average intraday volume - which is not great)
I would wa
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