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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

Continues to climb towards 60$. This is what you have to watch$XLE continues to climb towards 60$ I was covering $XLE throughout the last month and mentioned the AB=CD pattern completion near 60$ that the price was aiming for. Now, $XLE is struggling with the Fast SMA line that stands in its way and keeping it from reaching 58$ and 60$. My focus now shifts to 59.5$ and 60$ as potential sell zones for a pullback move. I'm still bullish Oil, but 60$ can lead to a 5-10% correction in the Energy sector with the two bearish harmonics combination. Tomer, The MarketZone Follow me on TradingView Subscribe to my newsletters - goo.gl Follow my blog - goo.gl Subscribe to my Youtube channel - goo.gl
AMEX:XLE
by themarketzone
Potential Aggressive C buy - Harmonics setup towards FOMCThe Head and Shoulders pattern I mentioned on my latest analysis for XLE has reached its final target level and now we have an option for an Aggressive Bullish C entry in a bearish Bat pattern (yellow). This setup basically means that you buy the C point in what could turn out to be a bearish Bat pattern, aiming towards the D point (near 80$) as longer term setup. The 65-68$ zone must be considered also as target zone as the price should meet the downtrend line there if indeed it'll rally from the 60$ support zone. Stop loss should be with some safety distance below the A point. In the chart I'm showing an example of 3.5% Risk with potential 10% reward (almost 3 R/R ratio). Despite the potential bullish setup, we don't know that the price indeed intend to rally towards the D point so there's definitely a good chance that $XLE will continue lower and break below 58$ so you have to consider this risk. Tomer, The MarketZone This analysis is part of the Weekly Markets Analysis newsletters To read more interesting technical reviews for the week goo.gl To subscribe to the newsletters - goo.gl Follow my blog - goo.gl Subscribe to my Youtube channel - goo.gl
AMEX:XLELong
by themarketzone
MACRO VIEW: XLE AT MACRO UNCERTAINTY, ON DOWNTREND RISKEnergy SPDR ETF is at macro uncertainty with a prospect of continued fall (much like the oil market) On long term basis - XLE is trading below its 10-year mean at 68.5, signalling uncertainty - as price close to a long term means indicates an outlier event, with institutional traders unsure of what to do with the stock. The price is also close to a potential macro downtrend, as it trades close to 5-year downtrend border at 66 (lower 1st standard deviation from 5-year mean) On short term basis - XLE confirms the downward risk, as price is trading very close to 1-year downtrend border at 67.5 (lower 1st standard deviation from 1-year mean). Thus if price falls below 67.5 it will have good probability of falling below 66, entering a downtrend on 5-year basis.
AMEX:XLE
by Killy_Mel
XLE Broke Significant Support on Crude Price WoesPlease check out the full article here: oilpro.com The Energy Select Sector SPDR® Fund (XLE) has been battered, and it is starting to bruise. With the price of crude now just hovering $43 per barrel, this exchange-traded fund (ETF) is likely to get a whole lot cheaper. This fund has support near-term because Wall Street is discounting recent events in the oil industry, as they did during the second-half of 2014. It also pays a dividend of 2.93 percent (SEC 30-day). Thinking back, the Federal Reserve's call that lower gas prices (via lower oil) was "unambiguously good" is striking a nerve with those laid of in the energy sector, which shed nearly 68,000 jobs last month alone. With a technical perspective, the XLE has confirmed downside weakness with a close below the major support trend created on 2009's bottom. The trend's momentum could weakening slightly as traders fish off the bottom, but the strength of the trend still remains quite strong - ADX over 20 and a substantial divergence between +/-DMI. Near-term range for XLE is $64.39 and $71.46, while a "relief" rally could spark buying up to $74.12; but, crude would have to play nicely. If current price support breaks, XLE will trend lower within the disjointed angle (purple dotted line with grey shaded body), which represents widening support and resistance. Additionally, the "death cross" is close to completion on the weekly chart. This bearish technical signal occurs when the 50-week moving average dips below the 200-week moving average. At $43.27/bbl, crude is less than $2.00 about its inflation-adjusted price. Please follow me on Twitter @Lemieux_26 Check my posts out at: bullion.directory www.investing.com www.teachingcurrencytrading.com oilpro.com Low cost trading solutions: www.fiverr.com
AMEX:XLE
by CommoditiesTrader
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