XLE Technical Set-Up Continues to Strengthen

Discussion in 'Technical Analysis' started by FXStreet_Team, Nov 3, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
    Likes Received:
    The July-Oct base-like pattern in the Energy Select Sector SPDR ETF (XLE) is nearing a key-upside, inflection zone at 69.30-70.20, which, if hurdled and sustained, will confirm that a new upleg is in progress off of the Aug 24-Sept 29 double-bottom lows. Such a confirmation will trigger upside projections at 72.00 and 74.30 near-term, and from an extended perspective, to 78.00-80.00.

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