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SPDR Select Sector Fund - Energy Select SectorSPDR Select Sector Fund - Energy Select SectorSPDR Select Sector Fund - Energy Select Sector

SPDR Select Sector Fund - Energy Select Sector

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XLE trade ideas

XLE - Bearish Inside Bar Pin Bar Fake OutAn inside bar / pin bar fake out pattern has formed on the XLE weekly chart. This pattern has formed just below a key resistance level as well as the 50% retracement of the last swing high/low, which is exactly the area we want to see this form. One negative with this setup is that price has formed a very sharp v-shaped reversal off it's lows. That doesn't mean that the pattern is untradable but it does mean any trades taken here need to be aggressively defended, and profit targets not be too aggressive.
AMEX:XLEShort
by krugman87
XLE possibly bullishI believe we are in a long-term, deflationary bear market. Trading has been choppy and difficult. However, many charts are reacting bullishly to yesterday's comments by Powell. It may be time for a "risk-on" rally and some low-risk trades might be available. Here, energy stocks are showing a slight break from a descending wedge. The MACD and RSI are showing divergence during the drawdown. XLE and Oil are both oversold. The stochastic is just starting to rise. I would consider buying a small GUSH (3x) position on an intraday pullback, targetting the 50ma.
AMEX:XLELong
by tangman