Energy sector bearish amid high interest rates + trade war
XLE
Weekly
Volume spike + Reversal Candle
Continuation candle didn't break the high of the reversal candle's high
Last weekly candle is week
Most probable scenario is a test of the 74.5 weekly low level
Daily
Bear flag with 20 daily EMA acting as resistance
Momentum bearish:
High US interest rates slow economy
Trade war
Weekly
Volume spike + Reversal Candle
Continuation candle didn't break the high of the reversal candle's high
Last weekly candle is week
Most probable scenario is a test of the 74.5 weekly low level
Daily
Bear flag with 20 daily EMA acting as resistance
Momentum bearish:
High US interest rates slow economy
Trade war
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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.