Is $XLE making a bearish ascending wedge?

2022年5月23日

It seems like the Energy sector ETF XLE is making an ascending bearish wedge.

It's showing lots of resistance around the $82.9 area and hasn't be able to close above it for the past ~2weeks.

I wouldn't be surprised if it has a fake breakout to the upside before eventually falling back inside the wedge.

Keep an eye out for a break to the down side as the measured objective would be around the $64.7 area.

I'm neutral for the time being but keeping a close eye on this for a bearish reversal.

2022年6月16日

註釋

We're back inside the wedge after the false breakout to the upside.
Keep an eye out for a break lower.