I've been reviewing multiple energy stocks and energy related etfs. One common theme i'm noticing is the multiple cup and handle patterns that are forming. Upon review of the 
XLE monthly chart, I notice a solid base.
1) Inside this base you can see the previous bullish ABCD pattern.
2) C leg of this pattern, was the short/resistances level
3) Previous resistances level ( C leg) is currently acting as support
4) If you look from B leg to C leg thats a bullish cypher pattern
5) There is good support at $76
6) The Bull flag is building, and is acting as the handle to the larger cup/handle breakout pattern set up
7) I have breakout level above $83.50, which is an old resistances level
XLE monthly chart, I notice a solid base.1) Inside this base you can see the previous bullish ABCD pattern.
2) C leg of this pattern, was the short/resistances level
3) Previous resistances level ( C leg) is currently acting as support
4) If you look from B leg to C leg thats a bullish cypher pattern
5) There is good support at $76
6) The Bull flag is building, and is acting as the handle to the larger cup/handle breakout pattern set up
7) I have breakout level above $83.50, which is an old resistances level
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Declinazione di responsabilità
Le informazioni e le pubblicazioni non sono intese come, e non costituiscono, consulenza o raccomandazioni finanziarie, di investimento, di trading o di altro tipo fornite o approvate da TradingView. Per ulteriori informazioni, consultare i Termini di utilizzo.