XLE Inverse Head and Shoulders
We can see an inverse head and shoulders pattern on the hourly chart. Due to the weekly macd negative momentum and the longer term downtrend, I would think it's more likely for price to consolidate for a bit rather than move higher right now.
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.