Notes:
* I last spoke about this around the end of May as it was forming an ascending wedge
Now:
* It seems like the Energy sector ETF
XLE is making an ascending bearish wedge/channel once again.
* It's showing resistance around the $82.9/8 area again.
* I wouldn't be surprised if it has a fake breakout to the upside face resistance around the ~$88.7 area and eventually falling back inside the channel.
* I'm neutral for the time being but keeping a close eye on this for a bearish reversal.
It doesn't seem extended yet, that's what makes me think that it may actually break out to the up side before heading back down.
* I last spoke about this around the end of May as it was forming an ascending wedge
Now:
* It seems like the Energy sector ETF
XLE is making an ascending bearish wedge/channel once again.* It's showing resistance around the $82.9/8 area again.
* I wouldn't be surprised if it has a fake breakout to the upside face resistance around the ~$88.7 area and eventually falling back inside the channel.
* I'm neutral for the time being but keeping a close eye on this for a bearish reversal.
It doesn't seem extended yet, that's what makes me think that it may actually break out to the up side before heading back down.
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Aviso legal
As informações e publicações não devem ser e não constituem conselhos ou recomendações financeiras, de investimento, de negociação ou de qualquer outro tipo, fornecidas ou endossadas pela TradingView. Leia mais em Termos de uso.