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The revival of Energy - XLE on the rise

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SPDR Select Sector Fund - Energy Select Sector (AMEX:XLE)  
DailyChartist  
AMEX:XLE   SPDR Select Sector Fund - Energy Select Sector
Trend Analysis Technical Indicators XLE xlelong Stocks ETF trading stocksignals stockstrading stockstowatch
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trendanalysis indicator xle xlelong stocks etf trading stocksignals stockstrading stockstowatch
XLE has been in a range for quite some time with the fall of Oil price from the first lockdown. But as thing recover and demand for Oil is returning to somewhat normal levels, the ETF is starting to give signs of life as well.
RSI well above 50 and is moving slowly into overbought territory, but this means that there is more room for the price to rise.
MACD has made a crossover and the histogram is turning positive.
Resistance level circa 40 has been breached.

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