XLE Week of Dec 18

16 Dis 2023

I am bullish on Oil generally, but I am expecting more of a range-bound week with energy next week.

It is in a neutral range, with more accumulation resting towards 89:



So we will likely end up drifting towards this target range.

Overall, generally neutral on energy itself, but I do expect a drift up, especially if the market maintains the bullish bias.

Watch for a break and hold of the threshold. Its very important with XLE that you wait for confirmation of a hold, because it frequently gets slapped back down or up with breaks:

Por ejemplo:

21 Dis 2023

Dagangan ditutup: sasaran tercapai

PH2 hit!

But it got sucked down with that dramatic panic sell towards EOD haha.