XLE at 100ema and key level on VPVR
$77.50 has a lot of volume and can act as a resistance perfectly in line with the 100ema. Daily candle close above this and it should move into the $80 price range and could sit there for a bit. We would see one more push to the top before oil calms and this forms a lower high around $90 or a double top.
Entered on the drop at $70
TP target 1 now at $77
TP target 2 at $81
TP target 3 at $90
Entered on the drop at $70
TP target 1 now at $77
TP target 2 at $81
TP target 3 at $90
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.