[ENERGY ETF] AWAITING BREAKOUT

Jan 17, 2019This ETF has been falling constantly on the weekly chart as it is waiting for its exhaustion stage to retest the 20 or 30 Day WMA. It could possibly reverse all together and starting its bull trend relative to the volume. For the last week or so it has been trapped and seem to be consolidating. I have projected here the paths if the ETF breaks both the $31.79 and the $31.37 levels. Oil has gained so far this year but has shown now strong signs of a bull reversal.

Jan 30, 2019

Comment

Still inside its consolidation zone.

Feb 4, 2019

Comment

Finally broke its consolidation zone.