Energy Stocks/Oil Trend line set up 2013-2015 continued to provide support in Oct2015 but at the start of this year has broken down.
Looking to short a rally.
XLE trade ideas
XLE LONG IDEA
LONG TIME TRENDLINES IN PLAY
LOW OF YEAR IN PLAY
CORRECTION WITH NORMAL TO LOW VOLUME
GOOD RR: 3.5+
$72.00level holding. (XLE) entering the buy zone.The pivot level at $72 is being tested and holding, for now.
I feel the line of least resistance is higher. I am looking for $84 eventually.
I will be looking to buy dips b/w 72-65.
A move under 65 and I would rethink my position.
No position at the moment.
$72.50. Important level for (XLE)Currently testing and holding the $72.50 level.
The line of least resistance appears to be higher.
A move under the $65 would change my mind.
No position at the moment, will update if one is taken.
Energy stocks might be overvalues against oil pricesThe break of the pennant within the possible head and shoulders complex could be the deciding factor. In terms of risk/rewad I prefer to short energy stocks against oil. But the way the chart is forming on a daily metric leads me to believe the trend of stronger energy stocks against oil prices will continue in the long term.
Corrective pullback in US Energy sector in the coming monthsWe have been bullish US Energy since early 2016, but price action in the past months is beginning to give us some cause for concern.
With the 50% retracement of the 2014-2016 fall now reached, but not decisively broken, and stochastics very overstretched, we believe a corrective pullback is now developing.
Additonally, the Energy sector is also showing signs of weakness relative to the SPX, suggesting Hedge Funds and other 'big players' could be moving assets into more promising sectors.
However, whilst we believe a correction is due, the longer-term charts continue to improve, and we view this pullback as a multi-month buy-into-dips strategy, as prices are expected to trade higher into 2017Q2+.
Energy continued uptrend $XLEPretty much looking like $COP breaking out of a bull flag. Tomorrow will tell if this is for real. To me it's pretty clear price is going up for now
XLE - Looking for a dip then going long$72 is a good support area for me. Looking to enter long term calls and/or a spread.
long XLE @ 15 min @ trading capability for this 52nd week `16This is only a trading capability - no recommendation !!!
Next wkk i`ll confirm or change my opinion about this SetUp :)
Buying/Selling or even only watching is always your own responsibility ...
Best regards
Aaron
XLE buy zone at $73-74It looks like we are in the 4th of C wave tracing out an ending diagonal. Watch for $73-$74 for a long position.
