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Energy stocks testing key breakout level, says Joe Friday

Courtesy of Chris Kimble

 

Just The Facts- Energy ETF (XLE) has lagged the S&P 500 by a large margin over the past three years, reflected in the chart below-

 

The chart above reflects that XLE has underperformed the S&P 500 by nearly 60% over the past three years. Could this large underperformance turn into an opportunity? Sure could! Check out the key test that is in play with XLE.

 

Joe Friday Just The Facts Ma’am– XLE is testing dual resistance this week at (2), at the top of falling channel (1). If XLE breaks out at (2), it should attract buyers!

Why do you see very few comments from me?  Because I believe the Power of the Pattern provides all you need to see what is taking place in an asset and determine the action to take

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Website: KIMBLECHARTINGSOLUTIONS.COM


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