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SPDR Select Sector Fund - Energy Select Sector
Short
Updated

XLE Nasty Setup

224
snapshot From a technical level, the XLE is showing a potential head and shoulders setup on a monthly chart. Combine this with major bearish divergence leaves shorting this basket of stocks as the trade of the year.

Any potential good news on the Ukraine/Russia front would be devastating on a fundamental level.


Everyone is long energy. Be brave, be bold.XLE
Note
Correction. The Bearish Divergence appears on the weekly chart.
Trade closed: target reached
jkish19871
Also on:
Chart PatternsDivergencehead_and_shoulderTechnical IndicatorsTechnical AnalysisTrend AnalysisXLExleshort

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.
Chart PatternsDivergencehead_and_shoulderTechnical IndicatorsTechnical AnalysisTrend AnalysisXLExleshort
jkish19871
Also on:

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.