The Energy Select Sector SPDR® Fund entry point

The Energy ETF $XLE (XLE) Long and Bullish has been consolidating since the high on June 10th, now looks to be gaining strength again, as the price of crude oil apparently is headed higher.

Today, before the close at $54.86, there is resistance from last week at $55.60 and last month’s high at $56.65.

The XLE Energy stock ETF relative strength is trading 1% above the S&P 500 index over a 50 day moving average, and 13.4% over the S&P 500 Index over a 200 day moving average.

Published by Trendanomics

Trend trading analysis of the markets with simple trend trading strategies.

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