XLE: A huge Inverted Head and Shoulders
Back in May we suggested that "Bulls need to see XLE breaking above 67 (even temporarily) towards the resistance zone of 71-74.In this case the formation of an Inverted Head and Shoulders formation is very possible, leading XLE much higher"(Energy sector (XLE): Make it or Break it!)
As we can clearly see from the following chart XLE since May touched 70+ and then retraced.Also volume recently started to pick up.We stay with our view for a huge Inverted Head and Shoulder formation for XLE and our current preferred pathway is as follows:
Happy trading!
As we can clearly see from the following chart XLE since May touched 70+ and then retraced.Also volume recently started to pick up.We stay with our view for a huge Inverted Head and Shoulder formation for XLE and our current preferred pathway is as follows:
Happy trading!
XLE: A huge Inverted Head and Shoulders
![XLE: A huge Inverted Head and Shoulders]()
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