Bullish island reversal with positive momentum divergence
The SPDR Select energy sector ETF (XLE) is gapping up to kick off the week and creating a 2-bar bullish island reversal at prior support and with bullish momentum divergence. This could be exactly what the bulls needed to kick this prior leader back into gear.
No position personally, but looks good for at least short-term continuation.
No position personally, but looks good for at least short-term continuation.
Evan Medeiros
Founder, Trade Risk
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Website: thetraderisk.com
Twitter: twitter.com/evanmedeiros
Latest Analysis: thetraderisk.com/smw
Free Newsletter: thetraderisk.com/trading-newsletter
Founder, Trade Risk
---
Website: thetraderisk.com
Twitter: twitter.com/evanmedeiros
Latest Analysis: thetraderisk.com/smw
Free Newsletter: thetraderisk.com/trading-newsletter
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.
Evan Medeiros
Founder, Trade Risk
---
Website: thetraderisk.com
Twitter: twitter.com/evanmedeiros
Latest Analysis: thetraderisk.com/smw
Free Newsletter: thetraderisk.com/trading-newsletter
Founder, Trade Risk
---
Website: thetraderisk.com
Twitter: twitter.com/evanmedeiros
Latest Analysis: thetraderisk.com/smw
Free Newsletter: thetraderisk.com/trading-newsletter
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.