Today, we’re continuing to monitor the current situation in the energy sector.
As we’ve been telegraphing to our clients, we believe there’s an increasingly better chance that we’ll see this energy sector outperforming for the remainder of 2023.
Looking at the monthly chart of the Energy Select Sector SPDR ETF (XLE) you can see a series of strong monthly canals (after some retracement) into the month of May.
It’s not hard to imagine how this consolidation pattern will resolve to the upside.
However, you can see something far more interesting happening in the energy sector on this upcoming chart…
In today’s 2-minute video, I talk about the energy sector and show you two charts indicating the sector will continue to outperform in 2023.
I release these weekly tips every Thursday for free, so stay tuned and stay subscribed here.
Editor of 11-Day Trader