XLE (SPDRs Select Energy Sector ETF) offers an objective short entry following this 60-minute channel breakdown & backtest + divergent high. Price targets are T1 at 75.12, T2 at 72.82 & T3 at 70.64. The suggested stop is any move above 79.50 with a suggested beta-adjusted position size of 1.0.
XLE 60-min Jan 24th
Alternatives for those unable to short XLE in a non-margin account are DUG (2x short oil & gas ETF) and ERX (3x short energy ETF).