ERX (The fund seeks daily investment results of 300% of the performance of the Energy Select Sector Index .) broke out today.
The fund had its biggest rally today since 11.16.2015. The breakout has a good volume.
ERX had a higher low when oil was printing a lower low on 02.11. So the energy shares were pricing that oil is bottoming soon. Based on this oil will follow the energy shares and will break out also.
Just a short thought: The price of ERX was 140 2 years ago. 700% is not bad in 2 years...
The fund had its biggest rally today since 11.16.2015. The breakout has a good volume.
ERX had a higher low when oil was printing a lower low on 02.11. So the energy shares were pricing that oil is bottoming soon. Based on this oil will follow the energy shares and will break out also.
Just a short thought: The price of ERX was 140 2 years ago. 700% is not bad in 2 years...
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.