QUARTERLY XLE-ENERGY STRUCTURALLY DETAILED TA-2019 (+MACD/RSI)
Safe to say that post 2014 (and even earlier) the renewables have become a serious competition to the traditional part of the XLE sector(coal/gas/oil).
Crucial note: Breaking of the black trendline, could symbolize the start of a recession as this would mean that inflation expectation have decreased.
In any case, this is just a brief analysis, everything is on the chart. There's really not much to say, XLE hasn't performed well in the last 5 years(blue text) compared to other sectors.
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Crucial note: Breaking of the black trendline, could symbolize the start of a recession as this would mean that inflation expectation have decreased.
In any case, this is just a brief analysis, everything is on the chart. There's really not much to say, XLE hasn't performed well in the last 5 years(blue text) compared to other sectors.
>>If you liked this idea give it a thumbs up! Every follow is much appreciated!>>
Full Disclosure: This is just an opinion, you decide what to do with your own money. For any further references- contact me.
Note
Quarterly XLE RSI. Could possibly look for a breakout to the top of the black trendline.
Note
Quarterly XLE MACD. Similarly to the RSI, however currently it does seem bearish.
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Monthly XLE.
Note
Seems that 80-81$ is the central resistance here. Anything below 80$-75$ I would consider a bearish or poor performing market.
-Step_Ahead_ofthemarket-
Note
Creating a new format in which this analysis would be EPISODE 2.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.