Energy Sector ( XLE )

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The Energy Sector (XLE): At Technical Crossroads?
April 11 2016 ( From TradingView )

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The Situation

The Energy Sector ETF (XLE) keep making since May 2015 lower highs
and lower lows technical pattern, anyway a bad good technical sign
indeed as shown by the first chart below.

The XLE ETF reached a new low on January 20 2016 at 49.93: the last
time it did reach that level was in July 2010.

And since January 20, we are into a strong dead cat bounce on the
XLE ETF.

But one interesting technical factor is that we are near testing the Major
Resistance Trendline that started back on May 5 2015 and so critical for Bulls to break. (See chart below - Red TrendLine - Ellipse) All that within a falling trading volume environment. (See chart below - Bottom Blue Area Chart - Ellipse)

As we are near testing that Major Trendline price wise, we are also near the Major Resistance Trendline on a relative basis ( Energy Sector ETF - XLE over the Mighty SP500 Index - SPY ETF).
(See second chart below - Red TrendLine - Ellipse).

But for me, the real battle for Bulls will be to break above the 200 DMA (Day Moving Average) price wise now at 64.05 and on a relative basis now at 0.3175. (See charts below - Green Line). We are still below the 200 DMA since September 2014 price wise and on a relative basis on the XLE ETF.

The Energy Sector (XLE):At Technical Crossroads? $SPY, $SPX, $XLE #Trading #Investing #xle #SP500

Daily RATIO
Energy Sector ETF XLE
over SP500 Index ( SPY ETF - Candles )
20 DMA ( Yellow Line )
50 DMA ( Blue Line )
200 DMA ( Red Line )

Energy Sector ETF XLE
Daily Candles
20 DMA ( Yellow Line )
50 DMA ( Blue Line )
200 DMA ( Red Line )

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