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/R3gPVE
Follow my blog - goo.gl/78KZsl
Subscribe to my Youtube channel - goo.gl/q8dbyT
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/R3gPVE
Follow my blog - goo.gl/78KZsl
Subscribe to my Youtube channel - goo.gl/q8dbyT
