Clicky

6 Reasons Why The Energy Sector is Still Headed Lower

Here are 6 reasons why it appears the energy stocks (via XES in this example) are still headed lower in the coming weeks. I remain longer-term bullish but near & intermediate-term bearish on the energy sector at this time including crude oil, XLE, XOP & XES.XES daily June 13th

XES daily June 13th
This chart is also a good example of the reason that I prefer to cover certain technical developments in video format, as there can be so many significant technical developments in a single chart that trying to cover them all via annotations on a static chart (screenshot) often renders the chart looking more like a Christmas tree.

1+
Jun 13, 2016 3:20pm|Categories: Equity Market Analysis|Tags: , , , , , |4 Comments

4 Comments

  1. Eric K June 13, 2016 4:09 pm at 4:09 pm

    Very instructive Randy! Thanks for taking the time to do it. I get that the videos are easier, but a picture is sometimes worth a thousand words.

    1+

    • rsotc June 13, 2016 4:16 pm at 4:16 pm

      Funny.. I felt like I typed 1000 words in annotating that chart, but seriously, I know what you mean. I should have added that the two horizontal lines at 17.16 & 16.25 are support levels which are the two most likely price targets.

      0

  2. dan123 June 13, 2016 4:28 pm at 4:28 pm

    Great chart thanks

    0

  3. pangblood June 13, 2016 5:55 pm at 5:55 pm

    Very nice, thanks Randy

    0

Comments are closed.