XLE, XLU & CLSK Setups - Quick Note

Energy (XLE): XLE found buyers in perfect synchronicity with the half-cycle low on April 22nd. This is a 30 bar cycle, so there is room to run. Be sure to raise your stops in the tail end of the cycle bracket around May 22, as selling often comes in the last 1/4 of the cycle bracket. XLE is above the 10 and 21 EMAs and a stop could be put below the moving averages or the prior low of $93.46. Profit targets are the $97.34, $100.26 and $105.95 Pivot Points. Taking partial profit is always advised. The CCI and RSI indicators tell us XLE is in a strong uptrend. The MACD histogram shows that selling power is waning. Finally the Stochastic RSI indicator is oversold and looks ready to reverse higher.

Our Cycle Forecasts for XLE support an up-cycle until June 7th to 15th.

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