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February 8th, 2017: XLE Chart Update

Posted by pugsma on February 8, 2017

XLE price has reached a critical support area here at 70.65 if the Inverse Head and Shoulders (IHS) pattern is play out to significantly higher highs into the end of year 2017.  XLE price has already bounced from 70.65 up to 71.85 turning positive for the day.  Good chance that a daily bullish hammer candle will form on XLE, which often sets a key bottom.

XLE 60-min chart:


XLE 4-hr chart:


XLE daily chart:


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