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SPDR Select Sector Fund - Energy Select Sector
Short

Energy stocks have topped... For Now

208
Following the recent oil selloff the XLE sector is now pulling back. With a clear divergence in the RSI with the 3 recent price tops, it seems like the XLE has completed 5 waves up. Following that is a 3 wave correction as a flat and is now preparing to finish the last leg of it, before exploding higher sometime next year.
m3rr0r
Chart PatternsEnergy CommoditiesTechnical IndicatorsOilsp500indexSPX (S&P 500 Index)S&P 500 (SPX500)SPDR S&P 500 ETF (SPY) Wave AnalysisXLExlelongxleshort

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 PatternsEnergy CommoditiesTechnical IndicatorsOilsp500indexSPX (S&P 500 Index)S&P 500 (SPX500)SPDR S&P 500 ETF (SPY) Wave AnalysisXLExlelongxleshort
m3rr0r

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.