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

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