The Energy sector is notoriously one of the last to roll over in a recessionary environment and the 
XLE chart appears to be topping out right on queue.
After a euphoric run beginning in the middle of 2020, the Energy sector has stalled out creating a triple top near the $90 level.
With the break of the 200-day moving average, along with an accompanying bearish momentum regime in the RSI, we expect the Energy sector to begin its descent into a Stage 4 decline.
Many individual stocks within the Energy sector look prime for capitulation events and accompanying sector weakness would further aggravate already anemic charts.
PT near 60.
XLE chart appears to be topping out right on queue.After a euphoric run beginning in the middle of 2020, the Energy sector has stalled out creating a triple top near the $90 level.
With the break of the 200-day moving average, along with an accompanying bearish momentum regime in the RSI, we expect the Energy sector to begin its descent into a Stage 4 decline.
Many individual stocks within the Energy sector look prime for capitulation events and accompanying sector weakness would further aggravate already anemic charts.
PT near 60.
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We will make you into a better trader in 90 days or your money back. 3+ Years & Counting. Creator of the TTI Trading System. Only Price Pays™ Podcast. Find us on Twitter at @howtoswingtrade for more information or thetradinginitiative.com
Haftungsausschluss
Die Informationen und Veröffentlichungen sind nicht als Finanz-, Anlage-, Handels- oder andere Arten von Ratschlägen oder Empfehlungen gedacht, die von TradingView bereitgestellt oder gebilligt werden, und stellen diese nicht dar. Lesen Sie mehr in den Nutzungsbedingungen.