Weekly Chart There is a nice Butterfly Pattern combined with a rising wedge, price action seems to have a bearish reaction, Volumes seem to decrease, Stop-Loss juste above the recent high, Target @ a strong support, Have a good trading, Benaki66
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Notes on chart
---- $STUDY
XLE stocks continue to underperform the SPY. Watch the red line closely. It could be a battle ground, but if it breaks it's very bad for Energy Bulls.
---- $USO <<<<<<< After. Looking for more tightening
PRZ between 88-90
Won't be surprised to see another test of that trend line. Short XLE
I'm long USO and short XLE via options
Bearish engulfing candle.....
Reversal formation.....
Tight range continues....
No bueno
Possible Butterfly
