Posted On: 04/30/2015 1:19:33 AM
Post# of 1096
XLE Energy Sector FINALLY Turned Around Time To Go Long Energy Stocks!
XLE, IXC, etc. Whatever energy ETF you fancy, it looks like the energy sector has finally turned the corner and now is the time to buy.
XLE has formed a sloppy Head & Shoulders Bottom, confirmed by a Parabolic Sar buy signal today, and a break above the 200 day moving average.
I know traders who took big losses trying to play oil/energy stocks too early. I've told everyone to wait but now, I'm telling everyone this is the time to buy.
I think there are 3 catalysts that could continue to drive energy stocks higher: US economy improving in 2nd half as GDP swings back up after putting in seasonal low today, rig count is much leaner now, ECB QE starting to work.
The chart of XLE looks like a textbook reversal chart:
Source: Energy Stocks Reverse, Time To Go Long
XLE, IXC, etc. Whatever energy ETF you fancy, it looks like the energy sector has finally turned the corner and now is the time to buy.
XLE has formed a sloppy Head & Shoulders Bottom, confirmed by a Parabolic Sar buy signal today, and a break above the 200 day moving average.
I know traders who took big losses trying to play oil/energy stocks too early. I've told everyone to wait but now, I'm telling everyone this is the time to buy.
I think there are 3 catalysts that could continue to drive energy stocks higher: US economy improving in 2nd half as GDP swings back up after putting in seasonal low today, rig count is much leaner now, ECB QE starting to work.
The chart of XLE looks like a textbook reversal chart:
Source: Energy Stocks Reverse, Time To Go Long
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