ERX Energy is back
ERX is a leveraged ETF tracking the energy sector. On the 4H chart it has been in a downtrend
since mid-March. IT dropped to the bottom of the high volume area on the long term profile
as well as the lowermost VWAP band. Firday May 12th marked the reversal with buying volume
replacing selling volume and then a significant rise in price in the past week.
On the AI moving moving average indicator, the optimized shorter Hull moving average
(red line) has crossed over the longer EMA moving average ( blue line) as has the price.
I conclude the energy sector is heating up. My new idea on BOIL supports this. I will take
trades with energy in mind and review big oil stocks and natural gas stocks as well as
pipeline and oilfield services stocks.
since mid-March. IT dropped to the bottom of the high volume area on the long term profile
as well as the lowermost VWAP band. Firday May 12th marked the reversal with buying volume
replacing selling volume and then a significant rise in price in the past week.
On the AI moving moving average indicator, the optimized shorter Hull moving average
(red line) has crossed over the longer EMA moving average ( blue line) as has the price.
I conclude the energy sector is heating up. My new idea on BOIL supports this. I will take
trades with energy in mind and review big oil stocks and natural gas stocks as well as
pipeline and oilfield services stocks.
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