Strong move on XLE….but WAIT
XLE will continue to be bullish this 2022 as a recovering economy should need a lot of energy & oil.
XLF will rise with XLE as many big banks invest in energy.
55 will be a good support & the next resistance areas are 65, 72 & 80.
Target price may be the height of Head & shoulder at around 88.
But wait….XLE has yet to breakout of a falling wedge soon & then the rising wedge to follow.
XLF will rise with XLE as many big banks invest in energy.
55 will be a good support & the next resistance areas are 65, 72 & 80.
Target price may be the height of Head & shoulder at around 88.
But wait….XLE has yet to breakout of a falling wedge soon & then the rising wedge to follow.
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