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May 2nd, 2017: XLE Chart Update

Posted by pugsma on May 2, 2017

12:25 pm EST:   XLE has now retraced the entire post-election move up from 67.00 to 78.45.  There is potential positive divergence (+DIV) on the daily chart MACD.  It’s now or never for XLE at 67.0.  If 67.0 holds and it breaks above 71.49, then it could test the 80.90 pivot.  If 67.0 fails, then it’s likely headed back it’s back to revisit January 2016 low at 49.93.

XLE 60-min chart:

XLE daily chart:

XLE weeky chart:

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