It's a controversial call to say energy prices are going to drop dramatically into next year but this is what the XLE chart is showing. We're at a double top with monthly bearish RSI divergence, and the same structural trendline where it fell last time. My guess is it could get back down to 50. If it's a C leg it could happen faster than most would expect. 50...
Perfect Cup and Handle has formed with XLE. We just need to wait for the crucial breakout and close above the brim level. With moving averages, all is looking great with 7>21>200 - Green - Bullish RSI - Buy divergence >50 - Bullish Target 1 $120.00 GENERAL INFO: The SPDR Select Sector Fund is a series of exchange-traded funds (ETFs) that are managed by State...
we are still consolidating from are last down move. No direction yet.
A break and close below the ascending channel could mean that $XLE could be around $76.4 in the near future. Some support areas to keep an eye on are $81.9 and $78.9. One to keep an eye on!
no really, this thing is set to roar. big rigs, big pigs, young hogs and motor fog. letterr rrrrrrip! were down near the bottom of the envelope, were way oversold, and the sectir is acting defensively in rotation with a bear market. id like to revisit the top of this rectangle and then dump again 🤷
Since October of 2022 we have seen an interesting zone form in the SPDR Energy Sector ETF. This zone is marked by the yellow rectangle in the chart. We noted four support bounces in this zone, a breakthrough of the zone, and two rejection bounces. This support/resistance zone is one to watch over the coming weeks. A rally into the yellow zone is one to watch...
Following the recent oil selloff the XLE sector is now pulling back. With a clear divergence in the RSI with the 3 recent price tops, it seems like the XLE has completed 5 waves up. Following that is a 3 wave correction as a flat and is now preparing to finish the last leg of it, before exploding higher sometime next year.
Double Top clearly closing below resistance w/ Daily Divergences Simple Support & Resistance trade, S&P looks ready for consolidation Higher Risk implied as Energy has been DOMINATING .
the crude oil droped from 130 to 80. energy sector has cycle, it cant stay on the top for a long time. I bought puts on 11/28, it is developing a possible head shoulder pattern on daily chart. My first target is 85.
AMEX:XLE Fool me once.... Shame on, Shame on you. Fool me twice... ummm, uhhhh, you can't get fooled again. - W Short XLE Bear Divergence, Divergence against Crude. XLE Targets: Target 1 = $59 ~50% Fib Energy Point. Target 2 = $50.50 ~61.8% Fib Energy Point. Fat_Fat
Broke down out of recent consolidation. This could end up being a precursor to a double top, too early to say the least.
XLE Energy Sector from S&P500 is still about to continue higher. Still same fundamental preasure. I do not care about macros,.. just look at that Monhtly Fair Value Gap.. look for long there Not an financial advice. DYOR
Hey all, I'm making this post to take note of the clear divergence between XLE (energy stocks) and USOIL (the price of oil ). The movements of these two tickers tend to mirror each other, with good fundamental reason behind why- the price of oil tends to increase the profit margins of energy companies, increasing the profits these companies experience. As it is...
Energy sector perform well in 2022 almost 46.6% till to date. Russian invasion boost it well and Energy and Oil stocks big profits, but these stocks and sector can not trend for long connected with supply and demand. Winter running in Europe and it's almost on peak or little more gap to upside.
I know everyone wants to be bullish energy, and I agree with the thesis over the long term, but the shorter term looks ugly. XLE looks like it's topped out here and wants to fall back to the $70 range, or below back to $60 (as this region has never been tested as support on the way up). I'd be a seller here and not a buyer. I do think a drop to $60 or so is a...
AMEX:XLE And this is a year to date look at the 11 S&P 500 sectors. What stands out is energy is the only one in the green. We saw an interesting call volume for Jan 23 Strike 95 $ and also from the chart it looks like a breakout soon. So you can already try to trade the breakout before it goes above 95 $ or you wait and put a stop at 95 $ with a tide profit...
XLE is in pullback territory. EDIT! I say for TUESDAY but I mean for WEDNESDAY!! Not sure I would be super bearish on this at this point. I know a lot of people are advancing very bearish ideas for XLE, but if we look at the buyers to seller ratios on XLE and XOM, they are huge. Far higher than on SPY on both the weekly and daily time frames. As of the...
Hello Acan here! Here is the recap on the Put Swing for Energy sector. Patience is key on swings that's for sure. Should have added more contracts on the rejection of trend but I didn't, end of the day a win is a win. Bought contract at .51 and sold at 1.53 a 310% gain.