AMEX:XLE   SPDR Select Sector Fund - Energy Select Sector
As the last published idea, I recommended to Buy when price re-test the old bearish trendline. Besides, the price now is supported by a short-term bullish trendline. I believe the time has come for us to get a long position. However, we should consider the possibility that the price would continue to fall and return the bearish trend.
There are 2 strategies:
1. Buy and set SL around 59-59.5
2. If the price breaks down the trend and hit SL. => Wait
Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.