Energy Sector Trend as represented by WTIC + 1 for potential
What I can take from this, since this is also more or less the same as the XLE Chart, is that in the Long / Intermediate Trend, the Energy Sector is Range Bound as indicated top and bottom limit of the Linear Regression (Blue Lines). Typically it will hover around the middle line, but as all Energy Investors and Speculators know, it can take off for the Top or Bottom Lines and cause them to extend.
For the current moment I am standing aside from the Energy Sector, waiting an opening be it Short or Longer Term to find an advantageous entry (Long or Short) that has potential to yield realizable profits.
Last week as I went thru my scans I picked up ONE Canadian Oil Stock that was not only sold out down the snubbers, but also was showing some signs of life, including an Out-Of-Range Spike that ended HIGHER than the Out Of Range Spike around the US Thanksgiving. I passed on it last week but I am continuing to keep it in my sights as an alternative target. ONCE the Close moves above the EMA6, and the KAMA, I think it will be potentially in my bag.
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