I am bullish on Oil generally, but I am expecting more of a range-bound week with energy next week. It is in a neutral range, with more accumulation resting towards 89: So we will likely end up drifting towards this target range. Overall, generally neutral on energy itself, but I do expect a drift up, especially if the market maintains the bullish bias....
For the past year or so, AMEX:XLE keeps getting rejected at the top of this triangle. In my experience, if Price Action knocks enough on the door (be it support or resistance), eventually the door will be open and price action will break-through. Steps I noticed on an Impulse Breakout: - Price Action smashes through resistance - Price Action looks very...
From a technical level, the XLE is showing a potential head and shoulders setup on a monthly chart. Combine this with major bearish divergence leaves shorting this basket of stocks as the trade of the year. Any potential good news on the Ukraine/Russia front would be devastating on a fundamental level. Everyone is long energy. Be brave, be bold. AMEX:XLE
Price action method. I was looking for it to break certain price level on the weekly, monthly and quarterly time frames
XLE is seeing tremendous underperformance vs broader inflation products and growth equities and I believe that it may see lower prices soon. 85 seems to be a major point of contentious for the market and stocks like CVX, XOM and COP aren't doing bulls any favors. We'll see what this one has in store for us...
See chart above. With the market pumping and an apparent rotation back into other stocks like tech, etc. the pressure is on for energy stocks. We are currently in a pennant, hovering on 1 SD from the mean. Two options here: #1 Break down from the pennant and thus, break down from 1 SD: We are going for a mean reversion back to the high to mid-60s. #2: Hold...
Oil Looking very weak! Natural GAs is almost ready to accumulate on the long side. XLE putting in bearish consolidation!
Energy was the only the only major sector to fall last month. Is there more downside risk? The first pattern on today's chart of the SPDR Select Sector Energy Fund is the November 6 close of $85.70. XLE gapped under that level the next day and has remained there since. Last week saw prices attempt to rally but again stall at the same price area. Has old...
Energy index is a confirmed sell on harmonics. SSTIS is a confirmed sell with a bear surge but a fake bear. 2D MV chart is a confirmed buy. The setup is interesting, even if energy index struggles, the forecast suggests a bullish continuation. Our forecast was proper here as well, so let's see the updated one. As energy index is at V-MA, SVT is at 60% bull...
The energy market may see some headwinds in the next 1-2 weeks. Natural Gas storage update on Thursday. Oil has triggered a head & shoulder pattern
Energy index is a confirmed sell on SSTIS with a fake bull setup. 2D MV chart is a short-term sell with a longer-term buy signal and a fake bear on 2D MV fakeout chart.
Everything is cyclical. Every asset has its own cycle eventually in its own time. From Crypto to Real estate and Technology. I crossed compared the Energy sector to the Technology Sector. XLE/QQQ Then overlaid the Technology Sector to the Energy Sector QQQ/XLE As you can see there is many clues where one will always outperform the other. You just have to hold...
One year of correction in energy likely ends early June which arguably does not bode well for headline inflation going forward
Looking at this weekly chart view of the XLE ETF, it looks set for a breakout and potential push to the psychological $100 level. Stop at $83.
Looking Good! Nice ROI Not difficult and great for your CHRISTMAS GIFTS!!!
Energy index is a short-term sell with a longer-term buy signal on harmonics. SSTIS is a short-term sell with a longer-term buy with a fake bear. 2D MV chart is a confirmed sell with an inital bear surge signal. 2D MV fakeout chart signals a clear fake bull.
Energy index is a confirmed buy on harmonics. My forecast gave a few days of bullish bounce and sideways move and then a drop. Instead of that, the drop happened in a day. SSTIS is a short-term buy with a longer-term sell signal and a clear fake bull. 2D MV chart is a confirmed sell. 2D MV fakeout chart signals a confirmed sell.
This is my bearish trend idea. However wait for a fall back to a key level after trend continue to downtrend momentum, because overall structure breakout and continue to downtrend. You can see it high time frame momentum. Good luck