The energy sector is one I discussed in my 03 July 2023 report, highlighting the related ETFs as well as the oil price which, at the time, had a pending breakout. The underlying commodity (oil) has since started to turn higher, which may be a boost for the sector, which also saw strong buying activity in recent weeks. Exxon Mobil's key drivers are as follows: (1) Price largely unchanged since October as the price absorbs overhead supply. (2) currently test the incline support in place since February 2022 (3) In the short term, is trading at the lower boundary of the 2 standard deviation, 50-day linear regression channel (with positive candle structure at the time of writing) (4) horizontal support in place. With energy perking up on a relative basis, a tactical rebound may be possible with the potential to breach the downward trend line. Do note that event risk is at hand with earnings due on 28 July 2023. Time Stop: 31 October 2023