If it doesn't recover 10SMA, the Shark could take this cyclical to ~71.
POSITIVE CORRELATED WITH OIL
Currently this ETF XLE has a strong negative divergence, and Stoch is indicating that the stock is overbought. Therefore, it is likely to continue to pull back. (Closed Loss) 78.01 on 2013-03-04
Perhaps a rush to own dividend paying XLE shares and the run-up in crude oil prices post-election has pushed the XLE to a dramatic, climactic peak, but now it looks vulnerable to a fall. OIL is an ETN (exch traded note) and XLE is an ETF (fund of stocks in the energy sector). Do you due diligence on these prior to establishing your positions. I like how...
Longer Term continuation pattern or potential Reversal Pattern? Bullish above the 23.6% Retracement as long moving average continues upward slope. Bearish on break of 38.2 and trendline, neutral for now
Pretty straightforward, channel rejection following the market. Looking for a few points in continuation over this week.
Here is how I see the XLE (Energy Shares ETF) for the next few months. I view this rally as a test of resistance and a place to begin shorting on a scale from 70-72-74 with a 76 stop. I view 64-62-60 as key support as shown on the graph. I believe that going long makes sense once the entire short position is covered. I will update and keep you all posted as...